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There are 4000+ energy efficiency programs in the U.S. are tasked with helping building owners save energy, but are struggling to do so
• Poor conversion rates: less than 10% of participating consumers retrofit their buildings with energy-saving measures
• Programs force contractors to use cumbersome software systems
• Complicated process for consumers to participate in programs – offline paper forms and Excel docs
• Can’t track program data easily or use data effectively
Simply, energy efficiency programs are not efficient!
The problem
CakeSystems helps energy efficiency programs operate more cost-effectively
• Fast and easy-to-use sales tool for contractors(Increases conversion rates from 10% to 50%)
• Step-by-step online workflow for consumers(Find contractors, accept proposals & track savings over time)
• Real-time dashboard & reporting database for programs
• Allows program to re-market to building owners over time > Revolutionary in this market
The solution
• Configurable workflows specific to the energy efficiency market, a la
Salesforce > 50% less implementation time & cost vs competition,
• 8-14% more accurate in predicting energy savings than other
software tools > Exclusive license to Michael Blasnik’s SIMPLE
• Programs can track marketing, re-engage with homeowners over
time through HOME Portal > Adds stickiness
• Simplify energy efficiency program processes, ‘The Cake Way’ >
Customer adoption, retention and loyalty
Competitive Advantages
Nationwide distributor
(9 salespeople pushing
CakeSystems into utilities)
$190M in revenue/year
Direct
Sales
Distribution
(Ecova)
SaaS
(low touch)
Energy Efficiency
ProgramsContractors
Go-to-market strategies
Marketing EPS to consumers?The Competition – Feature List
Andrew Healy, CEO. Founder BecauseIRun (SaaS startup), PSU MBA, 10+ years sales, specialty selling direct into utilities
Brandon Gallagher, CTO. 13+ years with Sony, Visilent & Viant. CTO/Co-founder of Covelo Group. UW MBA, Northwestern Engineering
Michael Atkins, VP of Client Solutions. 11+ years in technical client solutions with TransUnion and Healthnotes.
The Management Team
The Market: Where Are We Today?
• 500 programs in US with LTV of $146,000
• We have 25 whole-home residential clients today
• These programs are funded by utilities (with high barriers to
entry)
• We have had success against much larger companies in head to
head competition
• These programs have similar problems to other utility-funded
programs, i.e. potential for market expansion
Beachhead Target Market: Whole-home residential EE programs
The Market: Where Are We Going?
• 4000+ programs in US
• Cake has a solid wedge in the residential whole home
program market and can grow to enter other residential,
commercial and multi-family programs with very little
software configuration needed
Growth Target Markets: Other commercial, residential & multifamily EE programs
Long Term Vision: Big Data Play
• Monetize millions of data points which is very valuable to
product manufacturers/distributors
Financial Projections
2013 2014 2015 2016 2017 2018
$701,132$1,923,940
$5,105,481
$8,203,788
$12,965,893
$18,103,078Revenues
2013 2014 2015 2016 2017 2018
-$71,047-$264,727
$908,497
$2,020,966
$4,301,963
$6,875,931
EBITDA
Prior Funding:
• Bootstrapped to date via contracts
• Funders to date: Earth Advantage and Covelo Group
Current Round:
• Series A: Seeking $1.5M at $3M pre-money valuation
• Use of funds: Sales & marketing, full-time CFO, IT (product dev), tech support & working capital
Future Rounds:
• No future equity rounds anticipated
The offer
Numerous Acquisition Candidates:
• Prime Management Contractors
• Other software companies in the energy efficiency space
Sell: Exit in 4 years for $50M
ROI: 10x Multiple
The exit
APPENDICES
Use of Funds
$800,000$280,000
$240k – Sales
$70k – Marketing
•$310 Subtotal Sales & Marketing
$80k – CFO
$180 – IT
$50 – Tech support
•$310 Subtotal Infrastructure
$880 Working Capital
•$1.5M Total
AchievementsGenerated over $3M in revenue to date
Ranked #1 most accurate and consistent energy model in 3 separate 3rd party studies
Ecova chose CakeSystems as nationwide strategic partner after surveying national software landscape
15,000+ homes analyzed to date
Over 1M data points in database to date
$10M in energy savings potential for homeowners to date
“For the past two years, the Opportunity Council has been using CakeSystems. Our auditors are finding it easy to use and quicker than other tools we’ve had experience with. CakeSystems serves as a model approach.”
— John DaviesDirector of the
Opportunity Council’s Building Performance Center in Bellingham,
WA
Advisory Board
• Michael Blasnik, President, Blasnik Consulting
• David Heslam, Executive Director, Earth Advantage
• Nate Bellino, VP Utility Solutions Services, Ecova
• Sam Pardue , CEO, Indow Windows
• Stuart Rosenfeld, CFO, Indow Windows
• Tiger Adolf, Policy Director, Building Performance Institute
Current Clients
Secret Sauce
SIMPLE Algorithm
Exclusive MOU with Blasnik to use SIMPLE on in-home energy audits (very lucrative MOU)
Michael Blasnik
Developed SIMPLE
Considered a “genius” in the industry
SIMPLE algorithm beats the rest
“With the use of CakeSystems software, Energy Trust trade ally contractors are able to deliver streamlined information to help homeowners make informed and effective upgrades to their home’s energy efficiency.” -Diane Ferington Residential Sector Lead
“Finally a company has delivered what home performance contractors need… simple modeling software, a report generator, and the industry’s best sales tool in one package. My clients are clamoring for it!” — Greg Lasher Building Analyst
“For the past two years, the Opportunity Council has been using CakeSystems. Our auditors are finding it easy to use and quicker than other tools we’ve had experience with. CakeSystems serves as a model approach.” — John Davies Director
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