Since the 1980s, global energy consumption has more than tripled. Tibber's main mission is to reduce energy consumption in homes around the Nordics, Europe and the world – without jeopardizing comfort. This is achieved by inventing and integrating smart technology in homes (and garages for that matter). Now, the company is moving towards an even smarter future, with two new fantastic investors to back them. This is a letter from Edgeir Vårdal Aksnes and Daniel Lindén, founders of Tibber.
When we resigned from our jobs five years ago, we did it to build a tool we needed – and wanted – ourselves. We were frustrated by the energy industry's inability to put the customer in focus, along with their reluctance to evolve and improve with the help of innovative technology. We started Tibber as one of the world's very first digital energy companies which (believe it or not) has you, the customer, as its number one priority. We developed a solution that makes it easy for you (and all the other customers who are tired of the dinosaurs of the energy industry) to become more aware of how you use your electricity. With innovation at heart, we bring smart technologies into people’s homes to help them reduce their electricity consumption. To this day, that's still what we're all about.
Backed by two new heavyweights⚡️🥊
We can now announce that Tibber has strengthened our balance sheet by a further 65 million dollars. This will go towards improving, developing and integrating more functions for you as a user, so that we together can spread the Tibber product to the rest of the world.
Eight Roads Ventures (known for investments in Alibaba) and Balderton Capital (known for investments in both Revolut and Voi) now also become investors in Tibber. We have hand-picked them as partners due to their proven expertise, success and ambition. In addition, we have continued support from Founders Fund, Strawberry, BKK and other additional investmentors. In total, this means 30 million dollars in share capital and on top of that, Nordea Bank is stepping in as a new player to secure the working capital with 35 million dollars in bank financing. We are excited to receive further support, and are at the same time proud that we, together with our employees, remain the majority shareholders of Tibber.
You may be wondering what the future holds, here is a sneak peek of what goes on behind the scenes at Tibber:
New ways of interacting with energy ⚡️ Until now, the focus has been on providing our customers with an app that offers transparency, insight and control, in a way that is completely uncontested in this industry. Going forward, we see the app as just one of several platforms doing this. We are working on new ways that can help you have full control and overview of your home. It is perhaps needless to say that this will be done through a combination of both new hardware and software, with an end result that will result in a super smooth user experience for you.
Control the energy throughout your home ⚡️ Our goal is to combine our technology with other excellent technology from our partners, so that you can have full control of all your consumption and production in a simple way. New technology makes your home increasingly independent of the power grid and the monopolized infrastructure. This will result in a whole bunch of new Power-ups and features in the app – and a uniquel new experience for you.
An entirely new level of insights ⚡️ Insight is a vital part when it comes to taking control of your consumption. Examining what is happening in your home can help identify what could lead to an actual change in consumption. But a complete understanding of this is almost impossible today because it requires knowledge, time, commitment and experimentation to truly comprehend how your home uses electricity. The development must be taken to a completely new level when it comes to efficiently providing people with insights and access to data, and Tibber will invest heavily in this.
Our goal is to combine our technology with other excellent technology from our partners, so you can have full control of all your consumption and production in a simple way. New technology makes your home increasingly independent of the power grid and the monopolized infrastructure. This will result in a whole bunch of new Power-ups and features in the app – and a whole new experience for you.
We've come a long way, but this is just the beginning 🚀
There is only one planet, but there are millions of homes that can be turned smart with millions of people living in them that whose energy consumption can be reduced. The impact of global electricity consumption threatens our future, which is why Tibber has set an ambitious but critical goal of reducing electricity consumption of 10 million European homes by an average of 20% by 2025. You are a key part of this mission and the electrical revolution.
The Tibber Tribe is growing: now we're looking for 300 people to join the team!
In the beginning we were two excited tech nerds, and now we are over 60 talented people. However, the fact is that we are indirectly already hundreds of thousands of people who together form what we like to call the "Tibber Tribe" – and you are one of them.
It is important to emphasise that nothing would have been possible without our employees, who have accomplished things that were beyond our imagination. Our growing team has an enormous thirst for innovation and we are immensely proud of every single one of them. Over the next two years, we plan to hire as many as 300 additional enthusiasts, and we're constantly putting out thrilling new roles. We are looking for developers, engineers, creators and support heroes. We may be biased, but we think we have the best workplace in the world. Join us!
Thank you for being a part of this electric revolution 🦖🤺
From day one, our ambition has been to take on the role of tech innovators, in addition to being an energy company that you should be proud to be a part of. The more people who join the Tibber Tribe, the bigger difference we make for the sake of our planet, showing the dinosaurs of the energy market how it’s done. We think that's pretty amazing.
Edgeir & Daniel