HOUSTON -- FuelQuest Inc. has announced its inclusion in JMP Securities' 2012 report, "Hot 100: The Best Privately Held Software Companies." This is the second year in which FuelQuest was named to this list of software companies.
"We are again honored and pleased to be named to the JMP Securities' Hot 100," said Matt Tormollen, president and CEO of FuelQuest, an on-demand software and services company for the global downstream energy industry. "We have achieved record growth each of the last four years and are excited about our prospects for the coming years."
Tormollen said the company's leadership position in fuel-supply chain optimization and energy tax compliance "is a testament to the value our solutions provide our customers as well as the unparalleled dedication and expertise of our employees."
The following highlight some of the recent milestones achieved by FuelQuest that contributed to this honor:
- Breaking the 19-billion-gallon fuel mark, which represents annualized gallons managed within FuelQuest's fuel network.
- Releasing the ForeSite product line in mid-2011 with rapid adoption by top fuel marketers.
- Achieving 99% compound active growth rate in active gallons managed over the past four years with "Fuel Center," FuelQuest's outsourced fuel-management service.
- Closing a $10 million round of private-equity financing that will accelerate product development and market-expansion efforts.
Houston-based FuelQuest continues its commitment to develop best-in-class solutions that optimize strategic and logistical planning, supply portfolios and operations for energy supply-chain participants including fuel retailers, distributors, suppliers, fleet, rail, airlines, governmental agencies and traders.
Additionally, FuelQuest helps companies and organizations achieve business and regulatory--both environmental and tax--compliance through automation. FuelQuest expects continued growth and expanding marketing share within the global downstream energy market in 2012.
Currently, more than 650 customers use FuelQuest's solutions. These customers include leading global oil companies, international retailers, shippers and government entities. FuelQuest's fuel-management solutions help customers manage the complexity, regulation and market volatility for more than 19 billion gallons of gasoline and diesel fuel annually. Its Zytax solutions ensure compliance and accuracy for tens of billions of dollars of energy-related excise taxes per year.
The San Francisco-based JMP Securities is a full-service investment bank that provides equity research, institutional brokerage and investment banking services to public and private growth companies and their investors.
Each year, JMP Securities publishes its list of 100 private software companies it deems as leading their respective markets. JMP's software research team evaluates each company across multiple dimensions including financials, products and services, leadership, customers and market potential. The results of that research and corresponding company profiles comprise the annual report.
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