Kraken: the operating system behind 90 million energy bills

Meet Kraken: the machine-learning software that energy companies worldwide use to manage customers, batteries, solar panels and EV chargers. Every day, Kraken processes 15 billion data points. More than 40 major global energy companies run on Kraken's operating system, together accounting for more than 90 million energy bills.

A spin out from Octopus Energy, Kraken's parent company. One of the fastest-growing energy companies in the world. Kraken became the engine behind its smart energy management, and helped Octopus, and many other energy suppliers grow into a global player. Now Kraken has moved onto the next step in its growth: establishing itself as an independent global tech leader, to serve even more energy companies worldwide.

And investors are convinced. In December 2025, Kraken closed its first-ever standalone funding round of $1 billion, backed by heavyweight investors like D1 Capital Partners, Fidelity International and Ontario Teachers' Pension Plan and valuing the company at $8.65 billion. Its contracted revenue has grown 4x in just three years, now topping $500 million annually. And its ambition matches the money: Kraken's own CEO puts the goal at positively impacting a billion lives within a decade.

And that's exactly why this matters so much for the energy transition. Octopus Energy's mission is "decarbonisation-as-a-service": letting customers actually benefit from green power, instead of just paying for it. Kraken makes that real. Think of your car charging automatically at night, right when the wind is blowing hardest. Cheaper for you, more stable for the grid, and a nudge toward more solar panels and home batteries being installed. That's how Kraken is accelerating the electrification of heat and transport, with a mission to expand that reach much further.

What does the energy world look like when a multi-billion-dollar tech company breaks away from its parent? Sign up and hear it straight from Nick.