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BoilerJuice

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Online heating oil retailer

BoilerJuice was founded by a group of friends in 2004 with the aim of making ordering heating oil easier, cheaper and more convenient. The website matches customer orders with supplier capacity in local areas, encouraging competitive prices. As a result suppliers maximise volumes and optimise deliveries.

 

Firing up growth 

  • Our investment is supporting BoilerJuice to expand throughout the UK, to develop its technology, supplier network and to improve customer service. 

  • Since investment a new chief executive, Lee Cowles, has joined to support founder transition and to assist in the development of the growth strategy. Lee was previously CEO at Nutmeg, the UK based online discretionary wealth manager, from October 2013 to April 2016. During this time, Lee delivered over 200x growth in customer numbers and 400x growth in assets under management.  We have also appointed a new CFO whom we worked with previously at Inov-8 and an experienced chair with a digital background. 
  • We are helping the team to scale their IT infrastructure and since investment BoilerJuice has launched a new app to help make ordering quicker. 
  • Our customer acquisition and retention team have worked with the team to drive customer acquisition through greater understanding of customer lifetime value and improved efficiency in PPC activity. In the six months after our work BoilerJuice experienced an 83% year-on-year increase in new customers.
  • Matt Upton from Livingbridge said at investment, “BoilerJuice is a true consumer champion that uses a technology-enabled solution to solve a longstanding problem for its customers. The business has grown steadily since its inception thanks to strong levels of customer loyalty and we are incredibly excited about bringing to bear our experience in the technology, energy and services sectors as we look to increase the Group’s profile and grow the business into a truly national brand.” 

 

 

“The investment from Livingbridge will enable us to invest in the technical development and evolution of the BoilerJuice.com transactional platform – and I am tremendously excited about what the future may bring.”

Lee Cowles, CEO 

Timeline

2004

BoilerJuice founded by group of friends

2016

Livingbridge invest in BoilerJuice

New chief executive joins from national discount diners club

2017

Lee Cowles joins BoilerJuice as Chief Executive Officer