Headquartered in Nottingham, ENSEK uses its market-leading, software-as-a-service (SaaS) platform to provide existing energy suppliers with its revenue assurance and gross margin accounting product. It also provides new market entrants with the end-to-end software solution required to enter and operate in the UK energy sector.
Led by CEO Jon Slade, the business has grown rapidly since its launch in 2010 through a continued investment in technology and a commitment to solving the issues faced by existing and new entrants to the UK energy market.
In October 2017, LDC backed the management buyout of ENSEK.
The investment has enabled the business to embark on the next stage of its growth journey, including continued focus on product and new proposition development. With energy suppliers responding to the growing demand for data, ENSEK will continue to enhance its analytics offering as an opportunity for growth.
In February 2018 ENSEK announced plans to collaborate with Centrica, one of the UK’s largest gas and electricity suppliers to both domestic and business customers. Leveraging ENSEK’s software platform and Centrica’s expertise, Centrica has been working closely with ENSEK over the past year in the development of a new solution for SME energy suppliers, ‘British Gas Lite’. Soon after, Ensek was placed 46th in the Sunday Times Tech Track 100, the business was recognised for its sales growth of 88% over the past three years.
In October 2018 ENSEK announced it has delivered a period of exceptional growth in the first year of ENSEK’s partnership with LDC.
ENSEK’s revenues have more than doubled in the financial year to March 2018 to £6.2million, up from £2.7million in the previous year, which has included significant increases in contracted recurring software revenue. Headcount has also increased substantially from 65 people to more than 120.
This momentum is set to continue into 2019, as the business is actively exploring opportunities to expand into new international territories within the USA and Europe, as well as pursuing wider growth opportunities in the UK. This includes plans to expand its services into new markets such as supporting UK water and oil suppliers.