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INTERNET | eCommerce / Marketplace
openenergymarket.com

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Founded Year

2013

Stage

Unattributed - II | Alive

Total Raised

$4.92M

Last Raised

$550K | 2 yrs ago

About Open Energy Market

Open Energy Market is a UK-based online energy marketplace. Its online platform automates the energy procurement process, offering the benefits of a broker paired with online services.

Open Energy Market Headquarter Location

Hays House

Guildford, England, GU2 4HJ,

United Kingdom

01483-492-600

Latest Open Energy Market News

Simble : Appendix 4C and Quarterly Activities Report

Jan 20, 2022

01/19/2022 | 05:46pm EST Message : Simble Quarterly Activities Report Sydney, 20 January 2022: Smart energy Software-as-a-Service (SaaS) company Simble Solutions Limited (ASX:SIS) ('Simble' or 'the Company') is pleased to present its consolidated quarterly cash flow report and business update for the quarter ended 31 December 2021 (December Quarter or Q4 FY21). Financial Highlights Simble Energy division ARR increased by 8% from Q3 to Q4 across AU and UK markets Net cash used in operating activities for the quarter of $0.47m compares to $0.38m for the prior corresponding period, on a like-for-like basis. The variance is attributed to expenditure on growth focused initiatives including an increase in sales staff, marketing and R&D costs Cash receipts from customers for the December Quarter were $0.59m, an increase of 127% on the PCP due to energy division growth and an increase of 135% on the prior quarter due to energy division growth and the timing of business productivity receipts Net cash from operating activities includes outflows in respect of software research and development of $0.21m (2020: $0.15m) which were previously classified as an investing activity End of quarter cash balance of $0.75m Operational and Corporate Highlights Launched the new CarbonView self-service Software as a Service (SaaS) platform aimed at assisting SME businesses meet their carbon reporting obligations. This specialised version of CarbonView joins the existing CarbonView product, an enterprise grade carbon reporting platform Signed a 5-year partnership agreement with a leading Australian Energy consultancy, Choice Energy ("Choice") to provide the CarbonView platform to their 4,500+ SME clients Launched SimbleSME, a bundled solution of Wattwatchers energy IoT devices with Simble's Energy Monitoring platform available to SMEs via a dedicated website www.simblesme.com Simble continues to invest in sales and marketing activities, with a particular focus in this quarter on the promotion of CarbonView to SME and enterprise customers 1 Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 E hello@simble.ioABN: 17 608 419 656 For personal use only Financial Update Simble is pleased to report receipts from customers for the December Quarter of $0.59m, a 127% increase on the corresponding prior year period of $0.26m. Receipts from customers for the year to date of $1.72m represent a 21% increase of the prior year figure of $1.42m. Simble Energy division annualised recurring revenue (ARR) has increased by 8% from $702k in Q3 to $758k in Q4, with most of this increase attributable to subscription revenue from UK partners including Sylvania, GA Harper and Powercor. The movement of energy SaaS ARR split between the CarbonView and SimbleSense platforms over the last twelve-month period is shown in the table below: Energy SaaS Annualised Recurring Revenue $800,000 Table 1: Energy SaaS ARR Overall ARR has also increased across Q3 to Q4, having risen by 5.1% from $1.11m to $1.17m. Net cash used in operating activities for the quarter of $0.47m increased by 5% on the previous quarter reflecting increased expenditure on growth focused initiatives. Payments for research and development were 89% higher, and payments for staff costs were 34% higher than the previous quarter. As required under ASX listing rule 4.7C.3 payments to related parties in the quarter of $40K are comprised of directors' fees of $30K paid pursuant to letters of appointment and consulting fees of $10K paid under a discreet project consulting agreement. The basis and principles of director remuneration are consistent with the remuneration report included in the Company's Annual Report which was released to the ASX on 31 March 2021. 2 Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 E hello@simble.ioABN: 17 608 419 656 For personal use only Operational Update CarbonView During the quarter Simble launched the CarbonView self-service Software as a Service (SaaS) platform aimed at assisting SME businesses meet their Net Zero goals. This version of the software joins the existing CarbonView product, which is an enterprise grade carbon reporting platform. The increasing demand from companies seeking to measure, disclose and report on performance against Net Zero targets presents an attractive and scalable opportunity for the company. The self-service platform can be accessed via the new CarbonView website: www.carbon-view.com The CarbonView software platform has been developed to service both SME and enterprise customers. Importantly, as these sectors have different requirements, the growth strategy for each has been customised to provide maximum value for each market segment. The CarbonView partner model is aimed at maximising penetration of the fast-growing market for Net Zero reporting. It allows Simble to amplify its reach and accelerate sales effort by signing agreements with channel partners to offer the CarbonView platform to their clients. Importantly, Simble uses different channel partners to access SME and enterprise customers. Simble entered into a number of new partnership agreements in respect of CarbonView during the quarter. 3 Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 E hello@simble.ioABN: 17 608 419 656 For personal use only CarbonView SME Partnerships Simble announced a significant contract and strategic partnership with Australian energy consultancy, Choice Energy. Choice specialises in utility cost reduction for businesses and private customers and manages over 4,500 customer accounts across Australia and New Zealand. Under the terms of the five-year agreement, Choice will offer "CarbonView-SME" to its customers as a service. SaaS revenues will be recognised on a monthly basis over the underlying end user's subscription term. CarbonView Enterprise Partnerships Energy and Carbon Solutions Energy and Carbon Solutions is an energy efficiency and solar energy provider and has been offering the SimbleSense platform to their growing customer base for a number of years. During the quarter it extended the partnership with Simble and committed to taking the CarbonView platform to its 400+ large commercial and industrial customers from the beginning of 2022. Open Energy Market Open Energy Market are a UK based energy procurement and consulting business with over 400 large industrial customers. Simble signed a referral agreement with Open Energy Market for the promotion of the CarbonView Enterprise platform to their customers and will commence promoting it from 1 February 2022. SimbleSME Launch Simble and Wattwatchers have partnered to launch the SimbleSME offer, including an upcoming digital campaign to promote the benefits of energy metering for SMEs. The current subscription model combines installation of Wattwatchers energy IoT devices and a SimbleSense subscription over 36 months. The SimbleSME website has also been launched: www.simblesme.com This initiative supports Simble's strategy to further penetrate the SME market through partnership and self-service models that will allow for SimbleSME to reach a much wider audience. 4 Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 E hello@simble.ioABN: 17 608 419 656 For personal use only Simble Solutions Limited (ASX:SIS) | ASX Announcement Simble CEO, Ronen Ghosh, said: "The December quarter was an important period as the Company set itself up for the 2022 year ahead. Pleasingly the end of 2021 saw us increase our cash collections from customers year on year and quarter on quarter based on steadily increasing recurring revenues. The Company acted decisively during the quarter to build a platform for rapid growth in 2022. We focused on the development of the CarbonView platform as a key pillar of our strategy, as well as building our business development capability with additional sales staff and various marketing initiatives to increase awareness and penetration of our SaaS solutions. Expenditure in these areas has been a necessary investment in order to capitalise on the current market tailwinds in the ESG and Net Zero sectors. We are already receiving very positive feedback in respect of our product suite including CarbonView and SimbleSense and this is translating into exciting opportunities with existing and new partners, and potential new customers. The entire Simble team is looking forward to engaging and supporting our rapidly expanding network of partners and customers as we help them reduce emissions and meet their Net Zero goals. It's going to be a busy 2022, and we can't wait." This announcement has been authorised by the Board of Simble Solutions Limited 5 Simble Solutions Limited, Level 2, 383 George Street, Sydney NSW 2000 P +61 2 8208 3366 E hello@simble.ioABN: 17 608 419 656 This is an excerpt of the original content. To continue reading it, access the original document here . Attachments

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