Cornerstone leads a seed round into PlusHeat
Summary
Nationwide boiler and home emergency service provider secures seed capital to further develop its customer-centric brand.We are pleased to announce that Cornerstone Partners has led a seed round into London based PlusHeat (www.plusheat.co.uk), an energy home maintenance and emergency repair challenger brand.The proliferation of new energy suppliers in recent years and increased choice for consumers has placed greater expectations on customer service which the Big Six are struggling to meet. Specialist energy maintenance and service providers are benefiting from this trend and seeing strong growth as customers switch away from incumbent players.PlusHeats on demand boiler repair and home maintenance services are customer centric and trusted by over 5,000 homeowners and landlords across the country.Founded in 2016 by duo Jay Jacobson-Kudzodzi and Liam Clancy the pair have built a tech powered platform called PlusTech, which captures key insights and drives operational efficiencies. These incremental gains have led to strong year on year growth with no sign of slowing.To date, PlusHeat has funded its growth through bank finance but in recent months became increasingly open to the benefits of angel investing.With Cornerstone and angel investor Michael De Giorgios investment, PlusHeat intend to invest in R&D, hire key executives and further develop their sales and marketing channels, accelerating growth.We are delighted to be partnering with Jay, Liam and the wider team and look forward to helping the business serve more homes nationwide.Edwin Appiah, Co Founder of Cornerstone Partners says of the backing:The net zero agenda presents an opportunity to install and serve greener energy appliances in the future. With 95% of homes centrally heated by gas or oil boilers the transition to low carbon alternatives will need trusted providers like PlusHeat driving innovation in this sector. We focus our attention on this group because we believe their entrepreneurial talent is often overlooked, underestimated, and underrepresented in the traditional funding community.We are a generalist angel syndicate providing investment of between \xa325k and \xa3100k into post revenue businesses across the UK.