Antwerp energy data specialist Gorilla raises capital in a round led by Headline.
Gorilla announces the close of a 23 million euros Series B round, enabling their continued expansion worldwide.
The investment is led by global venture capital firm Headline, with support from existing investors Beringea and the Flemish investment company PMV.
In recent years, the energy sector has faced an exponential increase in data processing needs. The proliferation of smart meters, market regulations, and increasingly volatile energy supply chains have led to overwhelming challenges when it comes to understanding and utilising data.
Outdated IT solutions and a fragmented data landscape have contributed to slow, inefficient processes that are reliant on manual effort. Insights from data are not being activated, with teams unable to react quickly to market changes and innovations in product offerings being held back.
Gorilla's solutions help utility companies maximize efficiency, unlocking much faster and more accurate results for teams in pricing, forecasting, and portfolio analysis. Their cloud-based data processing platform can handle enormous amounts of energy data, enabling energy companies to achieve significant performance improvements compared to the current generation of on-premise solutions and overreliance on spreadsheets.
Customers of Gorilla are energy retailers in the UK, Germany, the US, and Australia. Major customers include Centrica Business Solutions, ScottishPower, Shell Energy, Gas South, SouthStar, Synergy, Drax, and ENGIE.
