Kraken

Name

Kraken

Legal name

Kraken Technologies Limited

Website

https://kraken.tech

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Utility Operations Software

NAICS

Software Publishers (513210), Computer Systems Design and Related Services (5415)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

VPP Orchestration & Aggregator Operating Platforms (EUAFAKAC)

akta.pro secondary industries

Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD), Aggregator-as-a-Service & White-Label VPP Programs (Retailers, OEMs, Utilities) (EUAFAHAK), Dashboarding & KPI/Performance Management (HDAEAMAF), Hydropower Digital, Controls & SCADA/Automation (EUACAEAI)

Keywords

• Utility operating system
• Energy management software
• Demand response platform
• Customer information system
• Grid optimization software

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Platform Licensing: Kraken licenses its AI-powered utility operating system to energy, water, and broadband utilities globally on a subscription basis. Clients include EDF, E.ON Next, National Grid, Tokyo Gas, Origin Energy, Plenitude, and others. Revenue is generated through licensing fees based on customer accounts managed or usage of platform capabilities.
2. Platform Usage and Optimization Services: Additional revenue from optimization and flexibility management services where Kraken's platform coordinates distributed energy resources, manages grid assets, and enables participation in energy markets. Origin Energy data shows Kraken contributed approximately £420 million in high-margin recurring revenue.
3. Marketplace Revenue Share: The Kraken Marketplace enables independent software vendors to list products that integrate with the Kraken platform, with Kraken earning a revenue share on transactions.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

Kraken provides an AI-powered, cloud-native operating system licensed on a SaaS basis to energy, water, and broadband utilities. The platform unifies customer management, billing, field operations, grid optimization, demand flexibility, and virtual power plant orchestration into a single system, with modular products covering customer experience, asset optimization, and AI-driven analytics.

Product overview

Kraken is an AI-powered operating system for utilities delivered as a cloud-native platform-plus-modules architecture. The core Kraken platform serves as the central operating system connecting modular products including Kraken Customer (billing and CRM), Kraken Field (field workforce management), Kraken Flex/Generation Flex (generation asset optimization), Residential Flex (demand flexibility for homes), and Magic Ink (AI analytics). The company launched Autonomous Agents in June 2026 for AI-powered customer service. Kraken operates the Kraken Marketplace for third-party integrations and follows an Open Kraken strategy enabling external AI agents and developers to build on the platform. The portfolio is delivered globally across 15+ countries managing 90 million+ customer accounts. Kraken has expanded through acquisitions including Sennen (renewable energy software), GridEye/Depsys (grid analytics), Jedlix (EV charging), and Kwest (installation operations).

Differentiator

Problem solved

Functional benefit

Products and services

• Kraken Platform AI-powered, cloud-native operating system for utilities (energy, water, broadband) providing the foundational platform that connects all Kraken products and enables digital operations for utility companies worldwide.
• Kraken Field Field management solution for utilities providing AI-powered scheduling, route optimization, skills-matching for technicians, and mobile workforce management for device installation and maintenance jobs.
• Kraken Flex Flexibility orchestration and demand response management product covering residential, commercial, and industrial load management, powering virtual power plants and grid balancing services. SOC 1 Type 2 and SOC 2 Type 2 certified.
• Magic Ink AI-powered analytics product enabling natural language querying of utility data using generative AI models from OpenAI, Anthropic, Google Gemini, and Microsoft Azure for automated insights and decision support.
• Autonomous Agents Suite of utility-specific AI agents for customer service operations, developed in partnership with Sierra, enabling AI-powered customer service automation with compliance and governance built in.
• Kraken Marketplace Marketplace platform enabling utilities to discover, evaluate, and integrate third-party software and services from independent software vendors and system integrators, with revenue share model and vendor certification.
• Sennen Software for renewable energy project management. Acquired December 2023; expanded Kraken's assets sixfold and enabled management of offshore wind farms for the first time.
• GridEye Grid monitoring and analytics platform acquired November 2022 via Depsys acquisition, enhancing network operations and reducing costs and time for grid upgrades.
• Jedlix Smart EV charging solutions acquired October 2024, strengthening Kraken's position in demand management and EV-grid integration.
• Kwest Energy installation operations technology acquired January 2024 from a Berlin-based startup, enhancing operational efficiency and accelerating deployment of renewable home energy technologies across multiple markets.

Quantifiable outcome

• Up to 40% greater efficiency and 3x higher customer satisfaction in Autonomous Agents deployment for a major energy utility covering 1.3 million accounts
• +6 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

AI capability11 records

Feature9 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Schneider ElectriccoreStrategic or Co-development Partner · 12 June 2026Strategic partnership to tackle grid congestion using AI-driven demand flexibility, targeting faster connections for data centers and industrial users. The collaboration combines Schneider's real-time network monitoring platforms with Kraken's AI capabilities to extract more capacity from existing grids without requiring expensive infrastructure upgrades. Analysts estimate the global value of demand-side flexibility could reach up to US$1 trillion per year. Electricity demand from data centers alone reached approximately 415 TWh in 2024 and is projected to double by 2030.
• SierracoreTechnology or Integration · 11 June 2026Partnership with Sierra, an AI customer experience platform, to launch Autonomous Agents — a suite of utility-specific AI agents for customer service. The agents went live within four weeks with a major energy utility covering 1.3 million customer accounts, demonstrating enterprise-scale deployment. The launch represents a major step in Kraken's Open Kraken strategy, enabling AI agents to access Kraken's core business engines, unified utility data model, and approved capabilities to handle complex customer workflows in a governed, compliant manner. Reported outcomes include up to 40% greater efficiency and 3x higher customer satisfaction.
• EnercitycoreStrategic or Co-development Partner · 8 June 2026Collaboration to develop a virtual power plant (VPP) in Germany that will coordinate decentralized renewable energy assets into a single system capable of participating in electricity markets. Enercity contributes its portfolio of electricity and heat generation assets while Kraken provides the technological infrastructure. The VPP covers the entire value chain from automated asset onboarding to real-time optimization and continuous monitoring, enabling business models including wholesale market access, battery storage flexibility trading, and balancing mechanism participation.
• Saudi EnergycoreStrategic or Co-development Partner · 15 April 2026Saudi Energy (SE) and Kraken formed a joint venture headquartered in Riyadh to deploy Kraken's AI-enabled utility operating system exclusively across the MENA region. SE also acquired a minority equity stake in Kraken. The partnership enables SE to modernize electricity generation, transmission, and distribution operations serving over 11.5 million customers in Saudi Arabia, while Kraken gains a regional delivery and go-to-market presence. The deal validated Kraken's global expansion strategy in the energy transition sector.
• VistracoreTechnology or Integration · 5 March 2026Vistra expanded its Battery Rewards virtual power plant program to include Enphase Energy IQ Batteries, scaling its residential battery aggregation across Texas. Kraken's AI-powered platform coordinates participating residential batteries in real time, automatically shifting homes to draw from stored energy during critical demand windows. This aggregation supports grid reliability as Texas faces rapid load growth from population influx and industrial expansion.
• VoltusminorStrategic or Co-development Partner · 3 February 2026Partnership between Octopus Energy and Voltus to aggregate residential flexibility across four major US power markets — PJM, MISO, New York, and California — offering Flexibility-as-a-Service (FaaS) and Bring Your Own Capacity (BYOC) solutions. Octopus supplies aggregations of smart thermostats, EVs, and home batteries to Voltus while Voltus enables its commercial and industrial customers to participate in Octopus's virtual power plants.
• KonectaminorChannel Partner/ Reseller/ Distributor · 27 November 2025Konecta joined Kraken's newly launched BPO Partner Program as an initial partner to deliver customer experience at scale. Konecta has successfully integrated Kraken's Universal Agent model over two years and operates delivery centers in Casablanca and Durban, bringing deep utilities expertise representing 12% of its €2 billion global revenue. The partnership helps Kraken expand its reach beyond its current 70+ million customer accounts worldwide.
• SennencoreTechnology or Integration · 20 December 2023Acquisition of Sennen, a provider of software for renewable energy projects, which expanded Kraken's assets sixfold and enabled it to manage offshore wind farms for the first time. This acquisition significantly enhanced Kraken's generation asset optimization capabilities.

Scale indicators10 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Uplight: Uplight provides a customer engagement and energy management SaaS platform for utilities, including bill presentment, personalized recommendations, and DER orchestration. It directly competes with Kraken Customer, Kraken Flex, and Magic Ink for utility IT budgets in North America and Europe.
• AutoGrid Systems: AutoGrid (now part of Schneider Electric) provides AI-based flexibility, DER optimization, and VPP software for utilities and energy retailers. Its economics- and physics-based optimization stack directly overlaps with Kraken's Generation Flex and Residential Flex VPP capabilities, particularly for utility-scale aggregation.
• EnergyHub: EnergyHub (owned by Alarm.com) is a DER management platform that aggregates thermostats, water heaters, EVs, batteries, and solar into virtual power plants for utilities. It competes head-to-head with Kraken Flex / Residential Flex on VPP and demand-response programs in the US and increasingly Europe.

Emerging players

• Bidgely: Bidgely applies AI to appliance-level energy disaggregation and personalized customer insights for utilities. Its analytics and customer-engagement features overlap with Kraken's Magic Ink AI product and the customer-engagement modules of Kraken Customer.
• Clean Power Research: Clean Power Research provides solar and distributed-energy analytics (PowerClerk, WattPlan) to utilities and program administrators. Its generation-forecasting and interconnection workflow capabilities overlap with Kraken's Generation Flex and Open Kraken Marketplace ecosystem.
• Enode: Enode provides a unified API platform connecting EVs, batteries, heat pumps, and solar inverters for energy companies. It overlaps with Kraken's Tesla/BMW/Volkswagen integrations and Open Kraken strategy as an emerging player in the connected-device layer of the energy stack.

Broad incumbents

• Itron: Itron provides metering, network, and meter-data management (MDM) infrastructure to utilities worldwide. Its Mobile Field and analytics offerings overlap with KrakenField, KrakenFlow (network/distribution management), and GridEye capabilities.
• SAP for Utilities (IS-U / S/4HANA Utilities): SAP's IS-U / S/4HANA Utilities suite covers billing, customer management, asset management, and grid operations for large utilities globally. It is the legacy operating-system incumbent Kraken is most directly displacing on multi-year transformation deals.
• Oracle Utilities (Customer Care and Billing): Oracle Utilities is a longstanding incumbent CIS/billing and meter-data platform used by many of the same large utilities Kraken targets. It competes on the billing, CRM, and customer-management layer of the stack that Kraken Customer is replacing.
• Salesforce Industries (Energy & Utilities Cloud): Salesforce's Energy & Utilities Cloud combines CRM, field service, and Einstein AI for utilities. It competes with Kraken's customer-management, AI, and field-operations modules as a broader CRM platform with established utility relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/krakentech

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries16 records

Funding overview

Funding rounds2 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kraken