Patrick Hunt, CEO of Fiveworx, when asked about his company says “Fiveworx is a company that helps utility companies encourage customers to save energy in a less costly way than traditional marketing.”
The company has cutting-edge, marketing automation software that it sells to utility companies. The software assists utilities and allows them to optimize demand-side management, energy efficiency, and demand-response programs.
“Our solutions are essential to their business,” Hunt said. “Many utilities are required by law to help their customers save energy, and states offer significant financial incentives when utilities meet their goals.”
Furthermore, utilities “must reduce energy consumption during periods of peak demand,” he said.
“We offer a big data analytics and customer engagement platform that helps utilities target the right customers for marketing, deliver highly personalized messaging, motivate customers to participate in programs, and report savings, all for significantly less than they would otherwise spend,” Hunt said.
“Fiveworx has a rich history in both marketing and energy efficiency. The company itself is a spinoff of Shelton Group, a leading American strategic marketing firm focused exclusively on energy and the environment. Shelton Group has spent nearly a decade polling American consumers about energy efficiency and related topics, and this deep background in research is the foundation of the Fiveworx customer engagement platform.
Fiveworx’s name actually comes from the “critical nugget” of information that this research discovered.
Namely, that customers who complete five or more energy efficiency improvements say their bills have gone down.
Fiveworx launched four years ago, and it wasn’t long before the software company sought out Tech 2020’s assistance.
“I’ve known about Tech 2020 for about 10 years,” said Patrick Hunt, CEO of Fiveworx. “Having seen firsthand the impact Tech 2020 has had on other entrepreneurs and companies, it was a natural to ask for their assistance with our new venture.”
“One of the greatest challenges for startups in East Tennessee is access to capital,” Hunt said. “Tech 2020 has advised Fiveworx on our business model, business plan, and investor pitch, and has introduced us to a number of investors in the region. We participated in the Venergy Accelerator Program produced by Tech 2020, and decided to continue the relationship after seeing firsthand how they could help. Additionally, Tech 2020’s Startup Day was a huge success, serving as an introduction to multiple potential investors, employees, and partners.”
For more information about Fiveworx, visit http://www.fiveworx.com.