LBA backs Advizzo, a SaaS solution to customer engagement
Advizzo, a B2B customer engagement software and smart home specialist, has closed a pre-series A investment round from LBA and other investors which included participation from the LBA EIS Roundtable Syndicate Fund 2016 and the London Co-Investment Fund (LCIF).
The company’s software platform enables and guides end customers towards more efficient water and energy usage while at the same time helping utilities to become more efficient in their own processes and comply with their local regulation. The core Advizzo platform combines machine learning and behavioural sciences to have a positive impact on the end consumers and utilities.
The company, incorporated in June 2015, works with B2B water utilities clients with an equivalent of over 1 million households under contract. This new round of funding follows a seed round in February 2016 which was also supported by LBA and the LCIF.
This investment will enhance the scalability of the Advizzo platform and enable expansion into new geographical territories such as South Europe and the Middle East.
Patrice Guillouzic, Advizzo CEO, comments, “2016 was a great year for Advizzo with strong traction from the utilities market and great interest from investors. Such pre-series A is a great achievement for Advizzo with a fruitful collaboration with London Business Angels and the LCIF which did a follow-up investment alongside experienced private investors who know the utilities industry trends very well. We will continue to expand in 2017 locally and internationally with additional software modules.”
Anthony Clarke, LBA CEO, comments, “more and more utilities are realising the importance of effective customer engagement and the Advizzo team has developed a proven and market-tested solution to this, which leverages machine learning and behavioural science techniques. I am pleased that the round was led by a highly experienced utilities specialist who has now joined the company’s board and will no doubt add significant value to the company going forwards.”
Puneet Raj Bhatia, Fund Manager at the LCIF, comments, “Advizzo has made substantial progress since our initial investment. We are very pleased with the positive customer engagement not just in the UK but also internationally. We are delighted to support the Advizzo team in building the business into a global success.”