Skewb secures major funding to supercharge growth
Skewb, a provider of consultancy, digital transformation services and products to the energy and water sector, has announced a significant £6.25 million investment from BGF, one of the largest investors in the UK and Ireland.
The funding will support the continued growth of the business as it looks to meet the demands of an expanding customer base.
Skewb has grown revenue almost fourfold over the last three years. Skewb works alongside a large number of UK utilities and engineering partners, and employs 170 people, or ‘Skewbers’ as they’re known, from its headquarters in Warwick.
The business, which was founded in 2018 by husband and wife team Shashi and Indu Seshadri, has built a reputation for enabling water and energy companies to tackle key challenges and achieve operational efficiencies.
In the last 18 months, the business has developed proprietary software and services covering several business process areas. These include connections, developer services, water leakage, water demand, net zero, operate and maintain, as well as emergency and repair, which enable customers to outperform targets, comply with obligations, be cost efficient and embrace technology effectively to create an overall better customer experience.
The deal was led by Nick Holder, David Bellis and Kyle Long – investors in BGF’s Midlands team.
Skewb Co-founder and CEO Shashi Seshadri, said: “In a short space of time we have exceeded our growth ambitions. From a standing start, we have consistently enabled multi-million pound efficiencies for our utility customers. Our focus has always been on doing the right thing – always delivering for our customers and continually investing in our Skewbers. These are the core ingredients to execute a compelling growth strategy. Partnering with an experienced, long-term minority investor like BGF – one that is prepared to take a patient approach and support us over time as we grow – is an important stage in our growth cycle.”
As part of the investment, an independent non-executive chair will be appointed through BGF’s Talent Network – one of the largest groups of board-level non-executives in the UK and Ireland.
BGF investor Nick Holder, who will join the Skewb board, said: “Skewb is helping to drive business efficiencies across the water and energy sector in an innovative and transformative way, translating the vast experience of the team to deliver exceptional results for its clients.
“We look forward to supporting Skewb as it continues on its impressive growth journey, enabling it to seize opportunities and put its stamp on an industry calling out for a dynamic and exciting business such as this.”
Advisors on the deal were: Clearwater (corporate finance), Freeths (legals), Fairgrove (commercial due diligence), Browne Jacobson (BGF legals) and Claritas (BGF tax).
