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HOUSTON -- FuelQuest Inc. is marking several recent milestones which have led the on-demand software and services company to be recognized as one of the best privately held software companies.
Topping the list of accomplishments, the company broke the 19-billion fuel mark, which represents annualized gallons managed within FuelQuest's fuel network. In addition, it released the ForeSite product line in mid-2011 with rapid adoption by fuel marketers, according to the company.
Achieving 99 percent CAGR in active gallons managed over the past four years with Fuel Center, FuelQuest's outsourced fuel management service, and closing a $10-million round of private equity also add to the list of FuelQuest's highlights this year. The new round of funding will accelerate product development and market expansion efforts, as CSNews Online previously reported.
As a result of the achievements, FuelQuest has been included in JMP Securities' 2012 report, "Hot 100: The Best Privately Held Software Companies." This is the second year FuelQuest has been named to the list.
"We are again honored and pleased to be named to the JMP Securities' Hot 100," said Matt Tormollen, president and CEO of FuelQuest. "We have achieved record growth each of the last four years and are excited about our prospects for the coming years. Our market 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."