- Simble provides smart energy and mobility software solutions
- Simble has established itself as one of the only revenue-generating, smart energy tech companies available to Australian investors via Software as a Service (SaaS)
- Well-positioned to tackle the $26 trillion UK energy market with recent major multi-million-dollar strategic agreements awarded
Who is Simble?
Simble is a technology company headquartered in Sydney with offices in Melbourne, Auckland, Vietnam and London. Through its flagship software SimbleSense, Simble’s energy platform combines proprietary hardware with a real-time software solution designed to help businesses visualise, control and monetise their energy systems.
SimbleSense is designed to lower energy consumption and associated costs by harvesting data for energy and internet appliances throughout homes or businesses and is determined to help companies build a sustainable business and contribute to a sustainable future.
Simble boasts an undemanding market cap of just over $7 million as at July 9 2019, while continuing to kick financial goals year-to-year. Since June 2018, the company has reported $2.6 million in cost savings with a 69 per cent improvement in net operating cash burn. This, combined with its growing sales pipeline, means Simble is approaching a financial break-even point.
On top of this, the March quarter of 2019 Simble delivered a sales growth of 67 per cent compared to the same period the year before, supported by a 3-year CAGR customer growth of 200%+.
Simble say: “Customers on our platform have increased at a CAGR of 200%+ over the past 3 years. Targeting multiple markets through a partner-centric model will allow us to expand rapidly.”
Businesses making use of Simble’s technology can see energy costs drop dramatically, and as their energy consumption becomes more and more efficient, their environmental footprint gets smaller and smaller.
“At the end of each day, we are proud knowing that everyone benefits, and that in the process, we are contributing in a small way to help shape a sustainable world,” said Simble CEO Fadi Geha.
Fadi says: “Businesses often know they need to reduce their energy consumption, and as a result look into buying solar panels and energy efficient equipment and appliances.”
“But, what they’re not able to do is go back and demonstrate the savings they’ve achieved once they implement those energy improvements,” he said.
As a result, it can be tough to get future energy-efficiency projects approved. Simble noticed this problem and went about designing a solution.
The platform allows users to automate savings opportunities, reduce the energy footprint, and measure & verify energy efficiency projects. A company can implement Simble’s solution before a project has even started, apply the energy efficiency technologies, and subsequently have strong and detailed data to demonstrate savings achieved.
But on top of this, it’s the flexibility of Simble’s energy solutions that makes it so attractive.
Software as a Service meets the Internet of Things
Simble provides its data analytics services through a Software as a Service (SaaS) platform with Internet of Things (IoT) capabilities. These phrases are simpler than they sound.
Essentially, a SaaS model simply means that Simble’s technology is hosted and licensed online via a subscription basis, instead of having to be bought and installed on individual computers.
The Internet of Things, on the other hand, simply refers to connecting any device with an on/off switch to the internet and subsequently to each other. The concept revolves around the idea of having all electronic products in a household or business communicate, from lamps to coffee machines to calendars to cars.
With Simble’s energy solutions, that means energy efficiency can be tracked not just through monthly power bills or overall usage, but for each individual section of a company’s operations.
This innovative technology has caught the eye of future-focussed businesses in the UK.
To the UK and beyond
In May this year, the company landed a $6.4 million deal with BidEnergy and UK energy consultants UCR. The deal was built upon a previous $3.4 million agreement signed in January 2019 and expanded to integrate the SimbleSense platform with BidEnergy’s Robotic Processing Automation (RPA) platform and UCR clients.
The agreement allows Simble to significantly increase its customer base, scale faster and deliver more meaningful revenues, all the while lowering UK energy expenditure and consumption.
UCR was appointed as a non-exclusive distributor of the combined RPA and Simble energy solutions platforms. According to Simble, the market opportunity from this deal alone is expected to be worth roughly $27.6 million, provided all goals are met.
So, it was even sweeter when just a month later in June, Simble landed a contract with RATP Dev — a transport services company also based in the UK.
RATP Dev manages over 1100 vehicles across 97 bus routes on behalf of Transport for London, and transports roughly 249 million passengers every year.
Simble has partnered with electrical engineering company Powercor to bring the Simble SaaS and IoT technology to RATP Dev as part of an energy efficiency and baseline measurement program.
Under the program, the SimbleSense platform will connect to several energy metering devices for detailed measurement, reporting and verification of energy initiatives across all 13 of RATP Dev’s operational garages and maintenance depots.
The contract confirms the support Simble is seeing from government initiatives — particularly in the UK — and the growing demand for its solutions and energy efficiency projects.
Just recently, Simble was awarded yet another UK contract. This time the deal is under a five-year term and will see Simble providing its energy SaaS and IoT solutions to a leading undisclosed UK confectionary company.
Simble will again partner with Powercor, making it the second project between the companies, following the RATP Dev transport contract signed last month.
Powercor will initially install 30 Simble Energy hardware and software bundles across three manufacturing sites to provide detailed measurement, reporting and verification of energy efficiency initiatives.
There is the potential, however, to expand quickly to 450 bundles. If the expanded rollout is successful, this will prove very beneficial to the company.
“This contract has the potential for significant growth and is expected to materially contribute to our recurring revenue run rate,” Fadi said.
The UK confectionary client has over 300 locations including retail outlets, franchised operations and manufacturing facilities. Securing yet another contract, further validates Simble’s UK expansion strategy.
The future of our future
Energy prices are rising, and government policies are being drawn up worldwide to bring about efficient energy solutions — meaning according to Simble, the company is well positioned for growth.
Fadi is confident and says: “Simble plans to accelerate its growth in the UK by rolling out its software solutions in both commercial and domestic markets and focus on unlocking more strategic partnerships like the ones already signed with BidEnergy, UCR and RATP Dev.