Software developer Simble Solutions (ASX:SIS) has launched a $7.5 million initial public offering to commercialise its Simble Energy Platform.

The Simble Energy Platform is an Internet of Things (IOT) enabled control and visualisation tool, designed for businesses to reduce and manage their energy consumption.

The software-as-a-service (SaaS) company already generates cash flow of about $3 million a year from a portfolio of enterprise mobility solutions and Federal Government Research and Development rebates.

Simble has served more than 50 enterprise customers in Australia, New Zealand and the UK since 2009.

Its customers include Auckland Council, Barwon Health, Bayer Australia, Boral, Jurlique, Municipal Association of Victoria, Symbion Pharmacy Services, Tasmanian Ports, Tassal Group, TW Power Services and Northern Beaches Council.

The Simble Energy Platform — on which the company is pinning its future growth — has been developed over the past two years and is sold as a SaaS solution in Australia and the UK.

Proceeds from 20c-per-share initial public offering will be used to accelerate commercialisation of the Simble Energy Platform.

The offer is open to investors until February 9 and will value the company at up to $18 million at the time of listing. Simble is expected to make its ASX debut on February 22.

Management is holding on to more than 20 per cent of the register.

Paterson is the lead manager of the offer.

A new world of energy

Simble has two products – the Simble Energy Platform and a Mobility suite that helps automate business processes and enable employees to work remotely.

The Simble Energy Platform is an IOT-based technology designed to help businesses save money on their energy bill.

It combines a SaaS platform with smart meters and sensors that can monitor, control and monetise power use in real-time.

Penetration of smart electricity meters in the developed world is expected to reach up to 80 per cent by 2022.

The customer energy analytics software market is expected to pass $US1 billion in the US alone by 2018, according to GTM Research.

Simble plans to commercialise the Simble Energy Platform by partnering with telco and utility companies in Australia and the UK.

Simble CEO Fadi Geha sees the potential to add more than 200 small-to-medium business customers per month, based on the existing sales pipeline.

“Data is de-commoditising the energy industry,” Mr Geha said.

“We are giving telecommunication companies, utilities, financial and energy service the opportunity to complement their existing products and services mix with real-time energy monitoring.

“Simble Energy can be used to engage with a channel partner’s retail customers better by identifying areas where they can add value, such as by installing solar panels or other energy-efficient hardware.”

The company and its subsidiaries have attracted more than $5 million in pre IPO funding and proceeds from the ASX listing are scheduled to further support commercialisation of the Simble Energy Platform.

 

This special report is brought to you by Simble Solutions.

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