Shepherd raises funding for growth
Earthworm, an investor focused exclusively on sustainable projects, has invested a further £1.1m in remote facilities management tech Shepherd to enable its continued growth following an initial £2m investment in March 2019.
Earthworm supports projects that have a positive social and environmental impact on the world. Its investment portfolio spans sustainable energy, waste, food and property projects.
Shepherd’s ethos is to help create a smarter, more sustainable environment by providing property owners and managers with actionable insight via a range of data analytical solutions. Shepherd’s technology puts customers in control, with a complete view of their property’s health. Through real-time remote monitoring Shepherd helps organisations review their commercial property energy consumption and reduce their carbon footprint and operating costs by 25%. Their real-time monitoring and alerts also transform how risk is managed, preventing issues before they arise, reducing losses and breakdowns.
Stephen Chadwick, Shepherd’s CEO, said: “Earthworm recognise our unique capabilities to serve the market opportunity to transform how properties are monitored and managed. Since I joined Shepherd in early 2019, we have been on an exciting journey, earning several accolades including the 2019 Insurance Choice Award: Technology Partner of the Year, 2019 Oxbow: Insurtech Impact 25 and 2019 Intelligent Insurer: Hot 100. With our new and expanded leadership team we are 100% focused on delivering value for all our stakeholders: shareholders, partners and customers.”
Kerry Hughes, Earthworm’s head of portfolio and investment, said: “Since our first investment in Shepherd we have been extremely impressed with their progress, and we are very pleased to continue supporting them. Each of the investments in our portfolio is striving to have a positive impact on the planet and Shepherd is a perfect fit – their technology will improve the sustainability of property management.”
This funding will allow Shepherd to continue broadening their data analytical team and develop additional analytical tools for property performance; enabling customers to target and control their property’s environmental impact to enhance sustainability. Strengthening existing and creating new enterprise and partnership relationships will also be a focus as this has proven successful; Shepherd work with the six largest insurers in the UK to help manage risk and have a presence in several sectors including social housing, environmental services, hospitality and education.
Clients include Zurich, Aviva, English Heritage, Ecclesiastical and Bold & Reeves