About Switchee
Switchee is a company based in London (United Kingdom) founded in 2015 by Ed Warrick and Adam Fudakowski.. Switchee has raised $20.13 million across 6 funding rounds from investors including AXA Investment Managers, Wayra and ClearlySo. The company has 67 employees as of April 30, 2024. Switchee offers products and services including Switchee Device, Switchee Portal, Energy Voucher Service, and Mould iQ. Switchee operates in a competitive market with competitors including Particle, ecobee, MRI Software, Signify and Landis+Gyr, among others.
- Headquarter London, United Kingdom
- Employees 67 as on 30 Apr, 2024
- Founders Ed Warrick, Adam Fudakowski
- Stage Unicorn
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Sectors
Business ServicesEnergy & Utilities Real Estate & Construction
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Switchee Limited
- Date of Incorporation 09 Jul, 2014
- Jurisdiction LONDON, ENGLAND
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$20.13 M (USD)
in 6 rounds
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Latest Funding Round
$6.4 M (USD), Series A
Jul 03, 2024
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Investors
AXA Investment Managers
& 11 more
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Employee Count
67
as on Apr 30, 2024
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Products & Services of Switchee
Switchee offers a comprehensive portfolio of products and services, including Switchee Device, Switchee Portal, Energy Voucher Service, and Mould iQ. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Internet-connected device for heating control and real-time data collection
Platform for actionable insights on property management and resident support
Service to help residents with energy cost reductions and vouchers
Tool for identifying and managing mould risks in properties
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Funding Insights of Switchee
Switchee has successfully raised a total of $20.13M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $6.4 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series A — $6.4M
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First Round
First Round
(29 Apr 2016)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Series A - Switchee | Valuation | Octopus Ventures , AXA Investment Managers |
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| Aug, 2022 | Amount | Series A - Switchee | Valuation | AXA Investment Managers |
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| Mar, 2020 | Amount | Seed - Switchee | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Switchee
Switchee has secured backing from 12 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include AXA Investment Managers, Wayra and ClearlySo. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investment and support for founders in technology and health sectors.
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Founded Year | Domain | Location | |
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Diversified alternative assets are managed through investment strategies.
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Founded Year | Domain | Location | |
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Early-stage investments are made in climate tech startups by Contrarian Ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Switchee
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Switchee
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Switchee Comparisons
Competitors of Switchee
Switchee operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Particle, ecobee, MRI Software, Signify and Landis+Gyr, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
IoT connectivity platform from prototype to production is developed.
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| domain | founded_year | HQ Location |
Provider of smart thermostats for commercial and residential applications
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| domain | founded_year | HQ Location |
Property management software is provided for residential and commercial properties.
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| domain | founded_year | HQ Location |
Signify is recognized as a global leader in lighting solutions.
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| domain | founded_year | HQ Location |
End-to-end energy management solutions are provided for utilities worldwide.
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| domain | founded_year | HQ Location |
Smart panels for home energy management are provided by Span.IO.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Switchee
Frequently Asked Questions about Switchee
When was Switchee founded?
Switchee was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Switchee located?
Switchee is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Switchee?
Tom Robins is the current CEO of Switchee.
Is Switchee a funded company?
Switchee is a funded company, having raised a total of $20.13M across 6 funding rounds to date. The company's 1st funding round was a Seed of $2.57M, raised on Apr 29, 2016.
How many employees does Switchee have?
As of Apr 30, 2024, the latest employee count at Switchee is 67.
What does Switchee do?
Switchee was founded in 2015 in London, United Kingdom, as a provider of SaaS-enabled solutions for building energy management. Operations focus on optimizing energy usage for property owners and managers through services such as carbon management, boiler maintenance, DIS repairment, communications, gas and fuel safety, and retrofit validation. The company serves the real estate and sustainability sectors across the UK.
Who are the top competitors of Switchee?
Switchee's top competitors include ecobee, Particle and Landis+Gyr.
What products or services does Switchee offer?
Switchee offers Switchee Device, Switchee Portal, Energy Voucher Service, and Mould iQ.
Who are Switchee's investors?
Switchee has 12 investors. Key investors include AXA Investment Managers, Wayra, ClearlySo, Evergreen Group, and Octopus Ventures.
What is Switchee's valuation?
The valuation of Switchee is $1.63B as of Jul 2024.
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