Tendril has entered into a definitive agreement to acquire EnergySavvy, the leader in personalized utility customer engagement.
Image: Tendril to acquire EnergySavvy. Photo: Courtesy of Gerd Altmann/Pixabay.
With this acquisition, Tendril’s expanded platform now delivers proven solutions for the full range of C-level, residential customer experience challenges: reducing service costs, increasing satisfaction, and executing strategic initiatives, such as serving low-income households and supporting TOU rates.
As today’s utility Chief Customer Officers (CCOs) strive to deliver the relevant, satisfying and truly personalized experiences customers have come to expect, they’re also tasked with reducing costs and uncovering new sources of revenue. Until now, addressing these needs has either required a patchwork of small, point solutions, or turning to slow, costly and inflexible back-end systems. By adding EnergySavvy’s multi-channel personalization solutions, Tendril can deliver a proven residential customer experience platform of unmatched scope, including advanced energy analytics, multi-channel personalization, Home Energy Management (HEM), behavioral engagement, program workflow and much more.
“Tendril knows that delivering radically better utility customer experiences is central to our ability to help shape and lead the clean energy revolution,” said Adrian Tuck, CEO, Tendril. “To do this we are bringing together those companies that not only extend the technical capabilities of our platform, but also share our commitment to innovation, and allow us to provide utility CCOs the industry’s most powerful single-solution suite. EEme gave us the industry’s most accurate disaggregation technology, and now EnergySavvy brings us best-in-class personalization. Our goal is to build towards a truly end-to-end solution of choice for utility CCOs during 2019.”
This acquisition unites two market leaders. Tendril’s Behavioral Energy Efficiency (BEE), Customer Engagement and Demand Management solutions are trusted by some of the nation’s largest and most innovative utilities to power modern DSM programs. Meanwhile, EnergySavvy provides utility customer experience and personalization products to more than 30 utility clients: solutions which have been proven to deliver measurable utility business benefits, including reduced call volumes and increases in arrears collections, program enrollment, email open rates, and customer trust scores.
“Teaming up with Tendril creates a platform that unites all residential utility customer data, analytics and insights in one place,” said Aaron Goldfeder, CEO, EnergySavvy. “By combining our respective strengths, Tendril becomes the natural leader in end-to-end residential utility customer experience. As utility CCOs and business leaders plan the next stage of customer experience investment—from personalization to DSM to engagement—the natural next question is, ‘Shouldn’t we be talking to Tendril?’”
Source: Company Press Release