Utilities software Kraken licences first ever broadband deal

• Challenger internet provider Cuckoo signs up to revolutionary tech platform
• Kraken has already propelled Octopus Energy to new heights in the power market
• Deal comes year after Kraken announced expansion into other utilities

London, 13th July, 2023 - Kraken Utilities, part of Octopus Energy Group, has landed its first broadband deal by licensing to disruptor Cuckoo. The deal was struck within a year of the launch of Kraken Utilities, which was created to take Kraken to utilities beyond energy, such as broadband and water.

The cloud platform ‘Kraken’ has already revolutionized the energy industry and is contracted to serve 30 million customer accounts across 14 countries including the UK, the US, Japan, Australia and a large portion of mainland Europe.

Octopus Energy was Kraken’s first client and rapidly grew because of its quick and efficient service enabled by the tech platform. It is now the second largest energy supplier in the UK and the only one that has been recommended by consumer champion Which? for six years in a row.

National internet service provider Cuckoo was launched in 2020 by digital entrepreneurs set on shaking up telecoms in the same way by insisting on obsessive focus around customers, and calling for better industry standards.

Kraken will enable the replication of Octopus’ famously efficient operating model which reduces the cost-to-serve by up to 40% and leads to better client and employee satisfaction. It delivers over 100 releases a day supported by automatic testing, giving faster development compared to competitors. It also makes it easier for customers to solve their own issues.

Deepak Ravindran, CEO of Kraken Utilities, said: “We're absolutely thrilled to sign Cuckoo as our first licensee in the Telecom industry. We see a lot of similarities in Octopus and Cuckoo - one has disrupted its sector, the other is about to - and both thanks to Kraken. Cuckoo customers are about to experience first class service.”

Tommy Toner, Co-Founder and Chief Experience Officer of Cuckoo, said: “We set up Cuckoo in the depths of the pandemic because we had the burning drive to make the broadband experience better. We’ve grown quickly, but to drive real change, we need the tech prowess and operational expertise that Kraken will unlock. We’re delighted to be their first broadband client.”

Development work begins now, with the intention of starting to migrate Cuckoo customers to its own Kraken-enabled in-house tech platform in the next few months.

-ENDS-

Notes to editors

Disruptor Cuckoo becomes Kraken Utilities’ first broadband licencee (Source: Kraken Utilities)

Media contacts

Octopus Energy Press office

press@octoenergy.com

+44 2045308369

About Kraken

Kraken offers a best-in-class end-to-end platform for energy supply, and is operating in the UK, Japan, US, New Zealand, Australia and most of mainland Europe. Kraken’s proprietary platform is contracted to serve over 30 million energy accounts across the globe through licensees and its parent company Octopus Energy, where it is responsible for the acquisition and management of 5.3 million domestic and business customers.

Based on advanced data and machine learning capabilities, Kraken automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralized, decarbonized energy system.

Kraken is part of Octopus Energy Group, and was developed to enable select third parties to take advantage of the technologies developed by Octopus Energy. It has already been licensed by major global players including Origin Energy, E.ON, Tokyo Gas and EDF. The platform is on track to reach 100 million energy accounts by 2027.

https://kraken.tech/

About Cuckoo

Cuckoo is the challenger broadband company on a mission to become the UK’s fastest, fairest, feel-good internet service provider. Founded in 2020, Cuckoo is taking on a broken broadband market. Just as Revolut took on the banks and Octopus Energy took on the energy providers, Cuckoo is ruffling feathers by bringing customers the fastest broadband speeds at fair prices and backed up by unrivalled service.

Cuckoo has already been voted twice in a row as MoneySavingExpert’s top broadband provider for customer service and is soaring ahead of other providers with a top Trustpilot rating. Unlike major providers, it charges loyal customers exactly the same price as new customers.

Cuckoo uses 1% of each customer’s bill to help get the internet to places it's needed most, like refugee camps, natural disaster sites and even communities in the UK. Cuckoo is also a proud signatory of the Armed Forces Covenant.

https://www.cuckoo.co/