{{Short description|British energy technology platform}} {{Use British English|date=November 2025}} {{Use dmy dates|date=November 2025}}
{{Distinguish|Kraken (cryptocurrency exchange)}} {{Infobox company | name = Kraken Technologies | logo = Kraken-logo.svg | type = Private | industry = Energy technology | founded = 2017 | parent = Octopus Energy | key_people = {{ubl|Gavin Patterson (chairman)|Amir Orad (CEO)|James Eddison (CTO)}} | area_served = Worldwide | num_employees = 2,000 | revenue_year = 2024 | revenue = £136.3 million | website = {{URL|https://kraken.tech}} }} '''Kraken Technologies''' is a British energy technology company developed and owned by Octopus Energy Group.
The platform is licensed by 40 utilities in 27 countries, including energy suppliers and non-energy utilities such as water, offshore wind, and telecommunications. Octopus Energy is Britain’s largest domestic energy supplier, and {{As of|2025|lc=y}} Kraken handles its 12.9 million accounts for supply of gas and electricity to 7.3 million UK households.<ref>{{Cite news |last=Ambrose |first=Jillian |date=2025-01-17 |title=Octopus overtakes British Gas as Britain's largest household energy supplier |url=https://www.theguardian.com/business/2025/jan/17/octopus-overtakes-british-gas-as-britains-largest-household-energy-supplier |access-date=2025-08-14 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref> In 2025, Kraken was contracted to manage over 70 million accounts, in 27 countries worldwide.<ref name=":0">{{Cite web |title=Octopus Energy Group Annual Results FY24 |url=https://octopus.energy/press/octopus-energy-group-annual-results-fy24/ |access-date=2025-02-10 |website=Octopus Energy |language=en-gb}}</ref>
== History == Octopus Energy introduced Kraken Technologies in 2017.<ref>{{Cite web |title=KRAKEN TECHNOLOGIES LIMITED overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/12014731 |access-date=2025-08-14 |website=find-and-update.company-information.service.gov.uk |language=en}}</ref><ref>{{Cite web |last=Knutt |first=Elaine |date=2021-06-18 |title=How Kraken is waking up customer service for global partners |url=https://utilityweek.co.uk/how-kraken-is-waking-up-customer-service-for-global-partners/ |access-date=2025-08-14 |website=Utility Week |language=en-GB}}</ref> The platform was developed to introduce efficiencies across customer needs and operational fulfilment.<ref>{{Cite web |last=Sternlicht |first=Alexandra |title=Meet the companies using AI to reinvent the energy business |url=https://fortune.com/2025/07/23/ai-energy-data-centers-environment-halcyon/ |access-date=2025-08-14 |website=Fortune |language=en}}</ref>
The platform increased international adoption in 2018 when Hanwha Energy Retail Australia (Nectr)<ref>{{Cite web|url=https://nectr.com.au/about-hanwha/|title=About Hanwha}}</ref> utilized Kraken for billing and customer relationship management (CRM) services as it entered the Australian market.
In October 2019, Good Energy licensed Kraken to manage its 300,000 customers for an initial three-year term.<ref>{{Cite web |last=Topalov |first=Milan |date=2019-10-09 |title=Good Energy turns to Octopus' Kraken for customer services platform |url=https://www.current-news.co.uk/good-energy-turns-to-octopus-kraken-for-customer-services-platform/ |access-date=2025-02-10 |website=Current News |language=en-US}}</ref> The following year, E.ON and its subsidiary Npower licensed Kraken to manage their combined customer base of 10 million.<ref>{{Cite news |last=Steitz |first=Christoph |title=UPDATE 2-E.ON allies with Octopus Energy to revamp UK retail business |url=https://www.reuters.com/article/innogy-results-eon-britain-idUSL8N2BG14E/ |archive-url=https://web.archive.org/web/20220901093836/https://www.reuters.com/article/innogy-results-eon-britain-idUSL8N2BG14E |archive-date=2022-09-01 |access-date=2025-02-10 |work=U.S. |language=en-US |url-status=live }}</ref> E.ON later transitioned two million former Npower customers to the Kraken-powered E.ON Next platform.<ref>{{Cite web |last=Topalov |first=Milan |date=2021-05-07 |title=Two million customers migrated to Kraken powered E.ON Next in 'record time' |url=https://www.current-news.co.uk/two-million-customers-migrated-to-kraken-powered-e-on-next-in-record-time/ |access-date=2025-02-10 |website=Current News |language=en-US}}</ref><ref>{{Cite web |last=Topalov |first=Milan |date=2021-03-24 |title=E.ON hails turnaround in UK retail business with £100m earnings jump |url=https://www.current-news.co.uk/e-on-hails-turnaround-in-uk-retail-business-with-100m-earnings-jump/ |access-date=2025-02-10 |website=Current News |language=en-US}}</ref> In May 2020, Origin Energy acquired a 20% stake in Octopus Energy, obtaining rights to use the Kraken platform in Australia.<ref>{{Cite news |last=Paul |first=Sonali |title=Australia's Origin Energy to buy 20% stake in UK's Octopus Energy |url=https://www.reuters.com/article/us-origin-energy-octopus-idUSKBN22D43J/ |archive-url=https://web.archive.org/web/20221205220556/https://www.reuters.com/article/us-origin-energy-octopus-idUSKBN22D43J |archive-date=2022-12-05 |access-date=2025-02-10 |work=U.S. |language=en-US |url-status=live }}</ref>
2021, Kraken Technologies was contracted by EDF Energy to transition its five million customers to the Kraken platform.<ref>{{Cite web |last=Bose |first=Kiran |date=2021-11-04 |title=EDF to move 5m customers to Octopus Energy Group digital platform |url=https://www.energylivenews.com/2021/11/04/edf-to-move-5m-customers-to-octopus-energy-group-digital-platform/ |access-date=2025-02-10 |website=Energy Live News |language=en-GB}}</ref>
Kraken announced further international partnerships with Plenitude (Eni) on 9 May 2023,<ref>{{Cite web |last=Viaintermedia.com |date=2023-05-09 |title=Plenitude partners with Kraken to support the growth of its international retail energy business |url=https://www.renewableenergymagazine.com/panorama/plenitude-partners-with-kraken-to-support-the-20230509 |access-date=2025-02-05 |website=Renewable Energy Magazine, at the heart of clean energy journalism |language=en}}</ref> serving approximately two million customers, and operating in France, Greece, Portugal, Slovenia and Spain.
In 2024, Kraken was licensed by the North American utility Saint John Energy,<ref>{{Cite web |title=Power To The People - Saint John Energy |url=https://sjenergy.ca/ |url-status=live |archive-url=https://web.archive.org/web/20250826002306/https://sjenergy.ca/ |archive-date=2025-08-26 |access-date=2025-11-12 |website=Saint John Energy}}</ref><ref>{{Cite web |last=Wolfe |first=Sean |date=2024-05-10 |title=Kraken lands its first deal with a North American utility for its demand flexibility and customer platform |url=https://www.renewableenergyworld.com/power-grid/smart-grids/kraken-lands-its-first-deal-with-a-north-american-utility-for-its-demand-flexibility-and-customer-platform/ |access-date=2025-02-10 |website=Factor This™ |language=en-US}}</ref> and partnered with German energy supplier Maingau Energie.<ref>{{Cite web|url=https://www.maingau-energie.de|title=MAINGAU Energie | Strom, Gas, Internet, Mobilfunk, Autostrom: Günstig, zuverlässig, deutschlandweit.|website=www.maingau-energie.de}}</ref><ref>{{Cite web |last=Mavrokefalidis |first=Dimitris |date=2024-10-17 |title=Digital transformation partnership set to enhance German energy services |url=https://www.energylivenews.com/2024/10/17/digital-transformation-partnership-set-to-enhance-german-energy-services/ |access-date=2025-02-10 |website=Energy Live News |language=en-GB}}</ref>
In September 2025 it was announced that Octopus was planning a demerger of its Kraken Technologies business unit, which was speculated to have a £10bn valuation.<ref>{{Cite web |last=Powell |first=Emma |date=2025-09-18 |title=Octopus Energy prepares Kraken software arm for potential IPO |url=https://www.thetimes.com/business-money/companies/article/octopus-energy-prepares-kraken-software-arm-for-potential-ipo-x5lq0g93j |access-date=2025-09-22 |website=www.thetimes.com |language=en}}</ref><ref>{{Cite news |last1=Farhat |first1=Eamon |last2=Griffiths |first2=Dylan |date=18 September 2025 |title=Octopus Energy Plans to Spin Off Technology Arm Kraken |url=https://www.bloomberg.com/news/articles/2025-09-18/octopus-energy-says-it-plans-to-spin-off-tech-arm-kraken?embedded-checkout=true |work=Bloomberg UK}}</ref><ref name=":6">{{Cite news |last=Khan |first=Yusuf |date=2025-09-18 |title=Exclusive {{!}} Octopus Energy to Spin Off AI Arm Kraken to Create Potential $15 Billion Software Platform |url=https://www.wsj.com/articles/octopus-energy-to-spin-off-ai-arm-kraken-to-create-potential-15-billion-software-platform-281d9a8c |access-date=2025-11-10 |work=Wall Street Journal |language=en-US |issn=0099-9660}}</ref>
In December 2025, Octopus sold a minority stake in Kraken for $1 billion, which valued the company at $8.65 billion.<ref>{{Cite web |last=Strydom |first=Martin |date=2025-12-30 |title=Octopus Energy spins out Kraken in deal valuing it at $8.65bn |url=https://www.thetimes.com/business/energy/article/octopus-energy-kraken-technologies-sale-v0ctgjtj2 |access-date=2025-12-30 |website=www.thetimes.com |language=en}}</ref> The sale was reported to be the first step in a full demerger of the company.<ref>{{Cite web |date=2025-12-30 |title=Octopus Energy to spin off $8.65bn tech arm Kraken |url=https://www.bbc.co.uk/news/articles/c1w9wxdl8xvo |access-date=2026-05-19 |website=BBC News |language=en-GB}}</ref>
=== Non-energy utilities === Kraken also expanded into the water and broadband/telecom utility sectors.<ref name=":1">{{cite news |last1=Earl |first1=Nicholas |date=18 May 2022 |title=Release the Kraken! Octopus expands tech platform to water and broadband services |url=https://www.cityam.com/release-the-kraken-octopus-expands-tech-platform-to-water-and-broadband-services/ |publisher=City Am}}</ref> In July 2023, it signed partnerships with Cuckoo, the broadband provider (July 2023)<ref name=":2">{{Cite web |last=Donegan |first=Michelle |title=Hello, Beastie: Octopus Energy's Kraken takes on legacy tech in broadband customer service |url=https://www.telcotitans.com/infrawatch/hello-beastie-octopus-energys-kraken-takes-on-legacy-tech-in-broadband-customer-service/7568.article |access-date=2025-02-05 |website=TelcoTitans.com |language=en}}</ref><ref name=":3">{{Cite web |date=2024-07-31 |title=Kraken Technologies: the software that's revolutionising utilities |url=https://www.independent.co.uk/news/business/business-reporter/software-infrastructure-utilities-energy-water-ai-b2586384.html |access-date=2025-02-05 |website=The Independent |language=en}}</ref> and Portsmouth Water.<ref name=":4">{{Cite web |date=2023-07-19 |title=Portsmouth Water becomes first water utility to license tech platform Kraken |url=https://thebusinessmagazine.co.uk/companies/portsmouth-water-becomes-first-water-utility-to-license-tech-platform-kraken/ |access-date=2025-02-05 |website=The Business Magazine |language=en-GB}}</ref> In October 2023 it signed an initial partnership with water utility Severn Trent Ltd, in which the platform was used to source 100% renewable energy to power operations, and to transition its vehicle fleet to be entirely electric by 2030.<ref name=":5">{{Cite web |title=Severn Trent set to revolutionise service for millions of customers with Kraken |url=https://www.waterbriefing.org/home/company-news/item/21253-severn-trent-set-to-revolutionise-service-for-millions-of-customers-with-kraken |access-date=2025-02-05 |website=www.waterbriefing.org |language=en-gb}}</ref> In November 2024, Kraken announced further adoption by English water company Severn Trent to license the technology platform to enhance services for its 4.6 million customers.<ref>{{Cite web |last= |date=2023-12-12 |title=Severn Trent set to revolutionise its customer experience |url=https://www.waterindustryjournal.co.uk/severn-trent-set-to-revolutionise-its-customer-experience |access-date=2025-11-12 |website=Water Industry Journal |language=en-GB}}</ref> TalkTalk became the first major UK ISP to adopt the Kraken platform in February 2024.<ref>{{Cite web |last=Jackson |first=Mark |date=2025-02-10 |title=TalkTalk Become First Major UK Broadband ISP to Harness Kraken Platform |url=https://www.ispreview.co.uk/index.php/2025/02/talktalk-become-first-major-uk-broadband-isp-to-harness-kraken-platform.html |access-date=2025-09-11 |website=ISPreview UK |language=en}}</ref><ref>{{Cite web |last=Sharma |first=Ray |title=UK's TalkTalk to Migrate 2.3M Broadband Customers to Kraken Platform to Enhance CX |url=https://www.thefastmode.com/technology-solutions/39512-uks-talktalk-to-migrate-2-3m-broadband-customers-to-kraken-platform-to-enhance-cx |access-date=2025-09-11 |website=www.thefastmode.com |language=en}}</ref>
== Organisation == Gavin Patterson was appointed chairman of Kraken Technologies in November 2023,<ref>{{Cite web |title=Former BT chief Patterson to head Octopus Energy's Kraken arm |url=https://news.sky.com/story/former-bt-chief-patterson-to-head-octopus-energy-s-kraken-arm-12997935 |access-date=2025-08-14 |website=Sky News |language=en}}</ref> and Amir Orad was appointed the first dedicated CEO in July 2024.<ref>{{Cite web |title=Octopus Energy tech arm to name CEO as valuation soars |url=https://news.sky.com/story/octopus-energy-tech-arm-to-name-ceo-as-valuation-soars-13187955 |access-date=2025-08-14 |website=Sky News |language=en}}</ref><ref>{{Cite web |last=Capel |first=Michael |date=2024-08-23 |title=Kraken, the next-gen utility platform, appoints Amir Orad as CEO |url=https://www.watermagazine.co.uk/2024/08/23/kraken-the-next-gen-utility-platform-appoints-amir-orad-as-ceo/ |access-date=2025-08-14 |website=Water Magazine |language=en-US}}</ref>
Kraken Technologies reported revenues of £136.3 million in FY2024 and total recurring revenue of £89.6 million, a 68% gain from FY2023. As of November 2025, Kraken had £380 million contracted annual recurring revenue and was contracted to manage 75 million customers.<ref name=":6" />
== References == {{Reflist}}
== External links == * {{Official website}}
Category:British companies established in 2017 Category:Privately held companies of the United Kingdom Category:Customer relationship management software companies Category:Software companies of the United Kingdom Category:Software companies established in 2017