“We needed to replace our present systems with a system that could improve the efficiency of our critical processes and keep pace with the needs of our growing company. Allegro 8 will allow us to optimize our operations with credit, contract and data management, exposure monitoring, simulation tools and flexible reporting.”

Eesti Energia

North Bridge Growth Equity and Tudor Ventures Make a Significant Minority Investment in Allegro

ETRM Solutions Provider Receives Capital and New Board Members from North Bridge Growth Equity and Tudor Ventures

DALLAS, Texas, January 31st, 2008 – Allegro, a leading provider of energy trading and risk management (“ETRM”) software solutions (www.allegrodev.com) has announced the successful closing of its first institutional funding.  The minority equity investment was made by North Bridge Growth Equity, a leading private equity firm which invests in technology and technology-enabled companies, and Tudor Ventures, the venture capital and private equity arm of Tudor Investment Corp., an internationally recognized, diversified investment management firm.

In conjunction with this financing, Mike Pehl, Managing General Partner at North Bridge Growth Equity, and Rick Ganong, a Partner at Tudor Venture Capital, will join Allegro’s Eldon Klaassen and Christopher Larsen on Allegro’s board of directors.

Mike Pehl has deep growth equity experience as both an investor and an operator. He has served on the boards of 14 private and public technology companies. Mr. Pehl gained broad operating experience as the former CEO of i-Cube, COO of Razorfish, the founder and CEO of ICS (an SAP implementation business), and as co-founder of SAP America.  "In addition to a growing, high margin revenue stream, Allegro possesses many of the characteristics we look for in an investment opportunity, including a strong management team, a capital efficient business model, and a strong competitive position," commented Mike Pehl.  "Allegro’s demonstrated ability to serve a very sophisticated market, to sustain growth over two decades, and to attract the best talent in the industry will continue to create significant value.  It is our belief that these qualities will support Allegro’s ongoing growth trajectory.  North Bridge looks forward to helping leverage Allegro’s strengths, while scaling it to be the dominant provider of ETRM software solutions to global markets.”

About Allegro Development

Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 27 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities.  Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.

For further information please contact Christie Lindstrom at media@allegrodev.com or +1.214.237.8117.

< Prev   Next >