- Bulb is a London-based, carbon-neutral energy supply company, founded by Hayden Wood and Amit Gudka in 2016.
- Bulb was established to fix the problems of the old energy industry and make energy simpler, cheaper and greener.
- The startup has raised £66 million in funding from DST and JamJar.
Hayden Wood and Amit Gudka founded Bulb in 2016. They had both previously worked in banking and consulting, focused on the energy industry. The founders describe the mission of the new sustainable energy provider, stating: “we saw the same problems at all the big providers. Inefficiency. Poor service. Expensive tariffs. Dirty energy. It didn’t have to be like this. The energy industry can change – and we set up Bulb to lead that change.”
Bulb offers an alternative to these traditional energy giants. As a certified B-Corp, the company works to demonstrate how a business can be a force for good. Bulb now has over 550 employees, including 198 new hires in 2019.
How Does It Work?
Bulb is leading the way in making changes to the poor service, expensive tariffs, dirty energy and inefficiency that have become synonymous with energy suppliers.
Firstly, Bulb strives to offer excellent customer experience through an easy-to-use mobile app. The application allows customers to keep track of their energy, so they know how much they are using. According to results, people use an average of 10% less energy when they can view their usage. Therefore, the app is not only convenient, but will likely save you money too. Bulb is also one of the cheapest suppliers on the market, 18% cheaper than Big Six standard plans. Bulb invests in technology to reduce costs and create savings for customers.
The company also aims to be simpler than traditional suppliers. Bulb offers one simple tariff for everyone. Sign up takes only 2 minutes, and there is a customer service team available by phone, should you need help.
Bulb is a champion for green energy, with 100% renewable sources. The company works with independent suppliers, including solar, hydro and wind powers. As a result, all of Bulb’s gas is 100% carbon neutral. Every year, the average Bulb member saves 3.5 tonnes of CO2 from entering the atmosphere. That’s the equivalent of planting 1,770 trees.
Bulb has seen great success, now with over 1.6 million customers. The growing disillusionment with traditional energy has seen space open up for Bulb. They make the switch over process very easy for customers and use a generous referral scheme, offering £50 for every customer that signs up with your link. Bulb also offers to pay your exit fees, if your old supplier charges you for leaving. Lastly, for every new member that switches, the certified B-Corp donates £2 to the Bulb Foundation, which makes grants to charities and social enterprises tackling the climate crisis.
This incentivised onboarding process has seen great success, growing their user base exponentially to 1.6 million customers, up from 326,000 two years ago. Bulb shows no signs of slowing with co-founder Hayden Wood speaking of their next goal “to supply 100 million homes around the world with affordable renewable energy”. He hopes to achieve this by the end of the decade.
The energy provider is rated 4.7 out of 5 with over 10,000 reviews on Trustpilot.
For more information visit: https://bulb.co.uk/