🏆 Deal of the Week · CW 51/2023
Octopus Energy raised USD 800 million in a Private Equity round in 2023, reaching a post-money valuation of USD 7.8 billion. The round was recognised as Deal of the Week for KW 51/2023. Investors included Canada Pension Plan Investment Board, Generation Investment Management, Origin Energy, and Tokyo Gas.
Octopus Energy — key deal facts
| Company | Octopus Energy |
| Founded | 2015 |
| Headquarters | London, United Kingdom |
| Amount raised | USD 800M |
| Valuation | USD 7.8bn |
| Round | Private Equity |
| Investors | Canada Pension Plan Investment Board Generation Investment Management Origin Energy Tokyo Gas |
| Sectors | Energy Efficiency |
Who invested in Octopus Energy?
The round brought together Canada Pension Plan Investment Board, Generation Investment Management, Origin Energy, and Tokyo Gas. The investor mix is notable for spanning institutional pension capital, sustainability-focused growth equity, an Australian integrated energy major, and a Japanese gas utility — reflecting broad cross-sector and cross-geographic conviction in Octopus Energy's clean energy platform. This international consortium aligns with Octopus Energy's stated ambition to accelerate global expansion.
What does Octopus Energy do?
Octopus Energy is a London-headquartered clean energy technology business founded in 2015 by the Octopus Group, with Greg Jackson serving as CEO. The company supplies electricity and gas to over 7.7 million households across 18 countries, and operates adjacent divisions covering renewable energy generation, electric vehicle leasing, heat pump installation, and business energy services. Central to its technology offering is Kraken, a proprietary data and customer management platform that Octopus Energy also licenses to third-party energy retailers globally.
Octopus Energy valuation & multiples
No multiples analysis was provided for this deal. Investors seeking EV/Sales and EV/EBITDA benchmarks for comparable energy efficiency and clean energy technology businesses can consult the relevant sector multiples pages on DealMatrix.
Frequently asked questions
How much did Octopus Energy raise in its Private Equity round?
Octopus Energy raised USD 800 million in a Private Equity round recognised in KW 51/2023.
What is Octopus Energy's valuation?
Octopus Energy was valued at USD 7.8 billion at the time of this Private Equity round.
Who invested in Octopus Energy?
The round was backed by Canada Pension Plan Investment Board, Generation Investment Management, Origin Energy, and Tokyo Gas.
When was Octopus Energy founded and where is it based?
Octopus Energy was founded in 2015 and is headquartered in London, United Kingdom.
Source: original announcement — read the full report.