DALLAS, Jan. 31, 2019 – Allegro Development Corp., the leading provider of next-generation commodity management software and advanced analytics, today announced extraordinary results in 2018, including product revenue growth of 26 percent.
The outstanding year was driven by increased market penetration, product innovation and customer satisfaction. In addition, Allegro was recognized by industry pundits as the leading E/CTRM software company in the industry.
“2018 was a record year for Allegro, and it’s nice to enjoy the success for a moment, but our focus is to continue to innovate and drive value for Allegro’s customers moving forward,” said Allegro Chief Executive Officer Frank Brienzi.
“Our sales pipeline grew by 26 percent in 2018, and it is stronger than any time in Allegro’s history. I know 2019 will be an even better year for our company, our stakeholders and our valued customers.”
“We’re incredibly proud of the tremendous growth and success Allegro saw in 2018,” said Allegro Senior Vice President of Sales Jonathan English. “Allegro is committed to continuously improving our products and services in the name of better serving our customers in the Americas, EMEA and APAC, and our company’s growth reflects that commitment.”
2018 Growth Highlights:
26 percent growth in product revenue
23 new logo customers (48 new logo customers in the last two years)
110 new customers added via the FEA acquisition
40 percent increase in recurring revenue
26 percent growth in pipeline
31 go-lives
46 countries where Allegro conducted business
“Product innovation has been at the forefront of Allegro’s leadership since its founding,” said Allegro Chief Technology Officer Evan Cox. “In 2018, Allegro acquired Financial Engineering Associates (FEA), the gold standard in advanced commodity analytics, and the addition of FEA and its top Ph.D. team of data analytic scientists further strengthens the analytical core of Allegro’s market-leading commodity management offering.”
Product Innovation:
Acquired FEA, the leader in advanced commodity analytics
Launched new CTRM platform for the metals and mining market
Developed major enhancements to Allegro’s mobile solution
Released strategic innovations to power, gas, oil, renewables and agriculture core products
Innovated cloud enablement to support next-generation deployment infrastructures, including Docker
“The real proof of value that a company provides is customer satisfaction,” said Allegro Chief Strategy and Customer Officer Michael W. Hinton. “Allegro has a 97 percent retention rate of its customers. Not only do customers remain with Allegro, but they demonstrate the value of Allegro solutions by further investing in its products. Allegro saw a 91 percent increase in license sales to existing customers in 2018.”
Customer Satisfaction:
97 percent retention rate
91 percent increase in license sales to existing customers
“It’s always an honor to receive recognition from industry analysts and pundits. Allegro received numerous awards in 2018, including the ‘Best CTRM Company’ from World Finance,” said Allegro Chief Marketing Officer Michael Schwartz. “The market recognition is a testament to our continued investment in Allegro’s products and the dedication of the Allegro team to ensure customer success.”
Industry Recognition:
Named the “Best CTRM Company” by World Finance
Voted Best Commodity Trading System in Risk Markets Technology Awards
Earned top placement in the EnergyRisk Software Rankings in the following categories: Preferred System; Best at Integrating with Other Systems; Governance, Risk and Compliance; Trade Surveillance; Freight Trading; Overall Ease of Using System; Portfolio Management; Post-trade Services; and Regulatory Compliance (i.e. Dodd-Frank, Remit)
2018 was a record-breaking year and cemented Allegro’s leadership position in the commodity management market. Allegro achieved unprecedented success across sales, services, product innovation, customer satisfaction and industry recognition, setting 2019 up to be another banner year for the company.
About Allegro Development Corp.
Allegro is the global leader in commodity management software and advanced analytics for companies that buy, sell, produce, or consume commodities. For over 30 years, Allegro has delivered position visibility, risk management, comprehensive controls, regulatory compliance and analytics through a forward-compatible, next-generation architecture that empowers commodity organizations to make data-driven decisions. Allegro’s proven CTRM software innovation and flexibility, coupled with a strong global network of industry partners and industry-leading analytics, makes its solutions the best on the market for full commodity portfolio management.