Deepbridge Investors Exit Perse Technology

Perse Technology Limited (“Perse”), a portfolio company within the Deepbridge Innovation SEIS and Deepbridge Technology Growth EIS, has secured strategic investment from Stark Software (“Stark”) resulting in the profitable exit of all Deepbridge investors.

Deepbridge first provided SEIS investment to Perse in December 2020, with subsequent EIS deployments between April 2021 and October 2022. The investment has been structured to allow all investors to exit in tranches after the third anniversary of their investment, ensuring maintenance of all Enterprise Investment Scheme (“EIS”) and Seed EIS (“SEIS”) tax reliefs.  The first tranche of investors is exiting immediately with further tranches starting from October 2024.

Harnessing data, to help save money, carbon and automate the path to Net-Zero, Perse transforms multiple data sources into a simplified, and more organised solution that provides profiles of energy and carbon emissions of assets connected to the grid, alongside recommendations for reductions and analytics for more qualified and highly customised insights.

The proprietary data can be integrated seamlessly through API, the Perse Hub, or white labeled as a simple clear B2B offering to offer a way for end users to optimise the cost and carbon position of their assets, including real estate. 

Meanwhile, Stark is a leading independent energy data consultant for UK businesses.

Dr Savvas Neophytou, Chief Investment Officer at Deepbridge, commented:

“We are delighted to secure yet another profitable exit for our investors. This deal not only represents a great opportunity for Stark to add to their product offerings, but is also a great opportunity for Perse to continue their growth with a core strategic partner and, crucially, represents a great deal for our investors.

“Perse’s growth and development highlights why SEIS and EIS investing are such important tools for empowering economic growth and encouraging innovation. It is a real pleasure of our job to be able to support awesome founders, and we wish Jane [Perse CEO], and the Perse team, the very best with their future growth plans.”

Alex Warren, Stark Group’s CEO said:

“Perse has already built a compelling range of offerings which resonate with our customers – from powering switching, to delivering immediate and easy access to energy data for energy brokers, to low carbon recommendations for property managers and major high street banks. By combining the breadth of Perse’s data footprint with the depth of our existing offering we believe that together we can build a range of truly transformative and market-leading offerings to empower our customers.  

“Perse has unique access to industry-wide data, on demand.  This can enrich Stark’s high-quality data and analytics offerings to unlock new insights for brokers, property managers and energy consumers of all shapes and sizes. I’m really excited about the roadmap of services we can develop over the coming months. 

“The Stark and Perse teams have a great deal in common – we are entrepreneurial, innovative and both have a track record in disrupting the energy system for the consumer’s benefit.  We can’t wait to get started.”

Jane Lucy, Perse’s CEO added:

“We are thrilled to welcome Stark as both an investor and strategic partner. Perse is committed to providing world-leading data services to drive the transition to Net Zero. Stark's strengths in combining the power of data with infrastructure development, will enrich Perse's offering to enable customers to take more control of their energy and decarbonise faster. Our respective core focus areas to date - domestic and SME for Perse, with partners including Compare the Market and NatWest; and Stark covering more than a third of the UK’s commercial and industrial energy market will see us together power a Net Zero Britain faster and with a boosted financial return."

NB: Deepbridge will communicate with respective investors and financial advisers as their exit tranches approach.