Setting the Stage for Factor's Success

The Energy Pricing Problem

Leveraging Domain Expertise in Startups

Building a SaaS Product and API-First

Early Customer Acquisition and Funding

Leadership Lessons and Capital Raising

The GenTrack Acquisition and Future Plans

Clean Tech Opportunities in New Zealand

Advice for Aspiring Energy Tech Entrepreneurs

Reflecting on Factor's Journey

New Zealand’s startup scene loves a good success story, but few have moved as fast – or gone as deep – as Wellington energy software venture Factor.

In this week’s episode of The Business of Tech, I talk to Factor co‑founder Jessica Venning‑Bryan to she and co-founder Simon Pohlen assembled a team with serious domain expertise, built a specialised energy pricing platform, landed major customers offshore, and sold to NZX‑listed utility software company Gentrack in barely two years.

The exit, announced in May, was valued at $24.9 million with a $10 million earn-out tied to hitting $17 million in annual recurring revenue within three years. Gentrack funded the acquisition out of its cash reserves.

Venning‑Bryan doesn’t sugar‑coat the journey. She talks candidly about the “fastest and longest” two years of her career – the tension between capital efficiency and ambition, the stress of fundraising, and the constant questioning of whether the team was moving fast enough or in the right direction. 

If you’ve ever wondered what startup life really feels like beyond the glossy pitch decks, this conversation delivers the unvarnished reality.

Deep domain experience pays off

What makes Factor’s story compelling is how textbook “problem–founder fit” looks in practice. After a decade inside the energy sector at Flick Electric and Flux Federation, Venning‑Bryan and Pohlen knew, in forensic detail, the headaches utilities face trying to price complex commercial and industrial energy contracts. 

Instead of accepting that clunky, generic enterprise software was as good as it gets, they built a true SaaS product – APIs for everything, rapid deployment, and integration into the messy legacy systems that dominate energy, banking and healthcare.

The episode also digs into how Factor uses AI, including time‑series LLMs like Amazon’s Chronos.

What this episode reinforces is that deep domain knowledge can be the most powerful startup advantage you have. It also reveals why API‑first SaaS remains a winning strategy in conservative, regulated industries, and how to think critically about AI’s role in high‑stakes forecasting and pricing. 

Most importantly, Venning‑Bryan’s story is a nudge to anyone sitting inside an industry, staring at a persistent pain point: if you understand it better than anyone, why not be the one to fix it?

Tune in to The Business of Tech this week to hear how Factor went from energy headaches to a $35 million exit – and what that playbook might mean for your own next move. Streaming on iHeartRadio, Apple, Spotify, or wherever you get your podcasts.

New Zealand&rsquo;s startup scene loves a good success story, but few have moved as fast &ndash; or gone as deep &ndash; as Wellington energy software venture Factor.
In this week&rsquo;s episode of The Business of Tech, I talk to Factor co‑founder Jessica Venning‑Bryan to she and co-founder Simon Pohlen assembled a team with serious domain expertise, built a specialised energy pricing platform, landed major customers offshore, and sold to NZX‑listed utility software company Gentrack in barely two years.
The exit, announced in May, was valued at $24.9 million with a $10 million earn-out tied to hitting $17 million in annual recurring revenue within three years. Gentrack funded the acquisition out of its cash reserves.
Venning‑Bryan doesn&rsquo;t sugar‑coat the journey. She talks candidly about the &ldquo;fastest and longest&rdquo; two years of her career &ndash; the tension between capital efficiency and ambition, the stress of fundraising, and the constant questioning of whether the team was moving fast enough or in the right direction.&nbsp;
If you&rsquo;ve ever wondered what startup life really feels like beyond the glossy pitch decks, this conversation delivers the unvarnished reality.
Deep domain experience pays off
What makes Factor&rsquo;s story compelling is how textbook &ldquo;problem&ndash;founder fit&rdquo; looks in practice. After a decade inside the energy sector at Flick Electric and Flux Federation, Venning‑Bryan and Pohlen knew, in forensic detail, the headaches utilities face trying to price complex commercial and industrial energy contracts.&nbsp;
Instead of accepting that clunky, generic enterprise software was as good as it gets, they built a true SaaS product &ndash; APIs for everything, rapid deployment, and integration into the messy legacy systems that dominate energy, banking and healthcare.
The episode also digs into how Factor uses AI, including time‑series LLMs like Amazon&rsquo;s Chronos.
What this episode reinforces is that deep domain knowledge can be the most powerful startup advantage you have. It also reveals why API‑first SaaS remains a winning strategy in conservative, regulated industries, and how to think critically about AI&rsquo;s role in high‑stakes forecasting and pricing.&nbsp;
Most importantly, Venning‑Bryan&rsquo;s story is a nudge to anyone sitting inside an industry, staring at a persistent pain point: if you understand it better than anyone, why not be the one to fix it?
Tune in to The Business of Tech this week to hear how Factor went from energy headaches to a $35 million exit &ndash; and what that playbook might mean for your own next move. Streaming on iHeartRadio, Apple, Spotify, or wherever you get your podcasts.

The Business of Tech, hosted by leading tech journalist Peter Griffin. Every week they take a deep dive into emerging technology and news from the sector to help guide the important decisions all Business leaders make.

Issues such as cybersecurity, retaining trust after a cyberattack, business IT needs, purchasing SaaS tools and more.

New Episodes out every Thursday. Follow or subscribe to get it delivered straight to your favourite podcatcher.

@petergnz

@businessdesk_nz

Proudly sponsored by 2degrees Business!

 

The Business of Tech, hosted by leading tech journalist Peter Griffin. Every week they take a deep dive into emerging technology and news from the sector to help guide the important decisions all Business leaders make.
Issues such as cybersecurity, retaining trust after a cyberattack, business IT needs, purchasing SaaS tools and more.
New Episodes out every Thursday. Follow or subscribe to get it delivered straight to your favourite podcatcher.
@petergnz
@businessdesk_nz
Proudly sponsored by 2degrees Business!
&nbsp;

The Business of Tech

Factor’s electrifying, $35 million exit 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0ad40b30-659c-4ff0-b70f-b49c015deefd/transcript