BrokerX's founder, Brett Jurishi has successfully built and exited multiple technology companies. Most notably, Jurishi was responsible for discovering and building out data science start-up, Drivin, which was sold to KAR Global in 2017. With their proprietary technology, Drivin utilized a broad range of data points including sales figures, demographic information and broader economic trends to help automotive dealers optimize their inventories and price their vehicles correctly.
To Jurishi, the decision to build another company was an easy one. After discovering another industry that lacks technology just like the automotive industry, he saw an opportunity. He uncovered that the energy industry is very high-touch, but low-tech. And by utilizing the same data technology as before, he could bring the industry to the digital age by creating a high-tech, high-touch platform.
At the time, energy brokers, who work with suppliers across the country to facilitate sales of power to businesses, inefficiently relied on spreadsheets to manage customers and pricing, and email to communicate with suppliers and buyers. His solution was to develop a cloud-based platform to streamline and simplify operations for energy brokers.
In 2018, Jurishi began work on BrokerX (Broker exchange) and operated in stealth prior to the company’s official launch in 2019. During their time spent flying under the radar, he ingrained himself in the Chicago energy community to learn more about the pain points brokers were experiencing and address them its product.
Many times companies build a product without really understanding market fit. However, BrokerX was able to have customers prior to even building the product, which allowed them to take their pain points and illustrate them within the platform. They started with market fit.
The software the team designed enabled brokers to spend less time on manual tasks and more time working with customers. It featured a customer-relationship management system, a pricing engine that allows brokers to request rates from multiple suppliers, a tool for generating polished-looking proposals and a contract generator. Users can work with their existing suppliers or tap into BrokerX’s nationwide supply base, which makes it easier to find the right type of energy at the right price.
In addition to scaling the team and continuing to enhance the platform, BrokerX’s other goal for the company is to “reset the energy industry” and standardize and establish buyer-seller trust in the deregulated energy market. This is because the energy market is deprived of regulatory oversight, standardization and is afflicted with bait-and-switch schemes. Resetting the energy industry will transform it into a competitive and trustworthy market. It will shed light on a flourishing and lucrative deregulated energy market that is greatly overlooked. Most importantly, it will re-establish consumer confidence, increase the number of consumers choosing their own third-party energy supplier and provide consumers with significant cost savings.
Here and Now
With our headquarters based in Chicago, we are a part of a hub that we are very passionate about - Chicago's technology industry, the city's fastest growing sector. Everything BrokerX produces or provides (product, customer support, etc.) is done in-house and is not outsourced.
Additionally, our customer service is our top priority. Every broker has their own dedicated account manager that is there to answer questions and support them. Your success is our success. Give us a call and a real human will answer; no wait time, no voicemails.
Dubbed "co-creators," much of our software has been influenced and improved by feedback from our customers. Who better to help create the best energy broker platform than you, the energy brokers? Solving your pain points and making you the most successful broker is our priority.
Poised for growth, we have been named the Top 50 Chicago Start-Ups to Watch in 2020 and the Top 6 Tech Companies to Watch in 2021. Since we launched in 2019, we have been scaling at lightning speed and we do not plan on powering down anytime soon.
Our team is growing! Do you want to join? Check out our careers page.
Trust + Transparency
BrokerX's mission is to transform the energy industry by aligning utilities, suppliers, brokers, agents, and customers through alignment, value, expertise, and innovation. Our foundation is based upon trust and transparency and our mission is to transform and make a positive impact within the energy industry.