ALLEGRO REPORTS 33 PERCENT REVENUE GROWTH IN 2013
Industry Pioneer Remains Domain Leader in Commodity Value Chain and Risk Management Solutions
Allegro Development Corporation, a leading provider of commodity supply chain and risk management software, announced today its fiscal year 2013 results, reporting revenue growth at a record 33 percent. This includes 17 new logo accounts representing some of the world’s largest energy companies.
Allegro’s growth comes at the heels of its global expansion, which includes the addition of managing directors in EMEA and APAC, new executive talent and reinvigorated product management, services and research and development efforts focused around partnering with customers for success.
Key regional highlights included:
- EMEA signing seven new customers across the region with continued growth in Germany
- Signing CNOOC China as a new customer in APAC
- Continued dominance with power and gas companies in the Americas and the addition of nine new customers as well as the addition of well recognized staff in liquids and refined products
“2013 was a big year for Allegro, 33 percent growth is remarkable and we are just getting started,” said Ray Hood, Allegro’s Chief Executive Officer. “Our theme for 2014 is innovation and we’re bringing it to the market by addressing the industry’s toughest challenges. Allegro has a great product – one that’s truly integrated and modular. The future of Allegro is about making what is great better and bringing exciting new products to the market that will help energy companies increase the value of their business through supply chain optimization.”
Allegro’s new leadership was carefully selected by its board of directors and hails from both the supply chain and technology industries. This new team is comprised of seasoned executives with extensive experience scaling organizations for growth. This includes Aditya Srivastava, Chief Technology Officer and Vice President of Engineering (TI, JDA, i2); Melanie Ofenloch, Chief Marketing Officer (i2, IBS); Mark Weaser, Managing Director, APAC (EXE, Manhattan, Manugistics); Steven Ferrigno (EXE, Infor, Oracle); and David Perotti, Vice President of Global Services (Booz Allen, EDS, HP).
“With changes in the global energy supply chain, energy companies will put more focus on resiliency. The organization must build mechanisms to reduce risks, develop a tight feedback mechanism, and marshal resources,” said Jill Feblowitz, Vice President, IDC Energy Insights. “Vendors, such as Allegro, that can design innovative products with these challenges in mind, partner with other players in the industry and maintain a strong customer focus, will be successful in this market.”