Maven Capital Partners led the Series A follow on round with participation from regional funds and private investors to scale operations and expand the team.
"Oak is a proven, fast growing technology business led by strong, experienced management team. The platform is globally scalable and as employee engagement is becoming increasingly recognised as pivotal in the overall success of a business, Oak continues to secure a number of impressive customer contacts. We look forward to working with Will and the team as the company scales further and continues to expand."
Maven Capital Partners led the seed follow-on round to support product development and sales growth.
"Guru represents an exciting opportunity for our VCTs to invest in a trusted supplier of carbon saving IoT technology. As a major contributor to greenhouse gas emissions, residential heating presents one of the greatest challenges in global and UK efforts to achieve net-zero emission. Heat networks have a major role to play but, like standalone domestic boilers, they can be hampered by inefficiency. This makes Guru’s sophisticated monitoring and AI-driven analytics technology very attractive to developers and operators as they strive to build efficient and cost-effective heating systems. We look forward to supporting the Guru team and helping them fulfil their growth aspirations."
The financing round was led by Maven Capital Partners alongside the government-backed Future Fund.
"Despite an incredibly challenging year, the Hive platform continues to provide a key service to more and more organisations as they evolve their remote working operation. Today’s transaction is a further testament to all that Hive has achieved since we originally invested in 2019 and our belief in the future growth of the company. John and his team have created a strong business and we look forward to working with them as they accelerate their development plans."
