Advizzo secures pre-series A funding from London Business Angels and LCIF to scale operations
London Business Angels and the London Co-Investment Fund backed the pre-series A round to support international expansion.
Advizzo provides customer engagement software and smart home tools for utilities providers, combining behavioural science and machine learning. Its platform helps end users manage energy and water consumption efficiently.
Advizzo has closed a pre-series A funding round backed by London Business Angels, the LBA EIS Roundtable Syndicate Fund 2016, and the London Co-Investment Fund, alongside private investors.
The capital will be used to scale the company platform and support international expansion into the Middle East and Southern Europe.
The transaction builds on previous backing from the same investor group, following a seed round completed in February 2016.
From the founder
"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."
Patrice Guillouzic
CEO at Advizzo
Investor perspective
"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."
Anthony Clarke
Managing Director, LBA
Use of funds
- 01Expand into international markets
- 02Build out infrastructure
Investors
Anthony Clarke
LBA
LBA EIS Roundtable Syndicate Fund 2016
Puneet Raj Bhatia
London Co-Investment Fund