Forbes Names Pricelock One of America's Most Promising Companies

Posted by Harden Partners on Thursday, December 01, 2011

Location
Redwood City, CA

Link
www.pricelock.com

Full Details

Pricelock, the leader in online energy auctions, has been recognized by Forbes magazine as one of America’s Most Promising Companies. Pricelock was selected after a rigorous evaluation of thousands of privately-held U.S. businesses in varying stages of development and from a multitude of different industries. Forbes’ list of America’s Most Promising Companies features 100 privately held up-and-comers with compelling business models, strong management teams, notable customers, strategic partners and precious investment capital.

“It’s an honor to be recognized as one of America’s Most Promising Companies,” said Naveen Agarwal, CEO of Pricelock. “This award is an acknowledgement that internet innovation is truly helping buyers and sellers of natural gas, motor fuels and other energy commodities. With easy to use online tools, we are bringing transparency, efficiency and fair competition to the energy markets, and simplifying bilateral agreements between buyers and sellers for physical delivery of energy products. Just as Amazon transformed the consumer retail industry, Pricelock is excited to be the force behind the transformation of the energy markets.”

Marketplace, Pricelock’s online energy auction system, is a user-friendly, internet-based platform that makes it simple to manage reverse or sealed bid auctions of motor fuel and natural gas requirements with a variety of customization options defined by the user. A comprehensive audit trail reduces the energy buyer’s administrative and regulatory burdens. For energy sellers, Marketplace provides a centralized platform to access customers directly and efficiently. The online bidding process reduces sales and marketing costs to ensure the buyer is receiving the most competitive prices.

“Sizing up younger, privately held companies is hard: Their fortunes can change very quickly and there’s a dearth of public data,” says Forbes Executive Editor Brett Nelson. “We took a more comprehensive approach to evaluate their health and potential.”

To sharpen its search, Forbes teamed up with CB Insights, a Manhattan-based data firm that tracks investment in high-growth private companies. With $650,000 in grants from the National Science Foundation, CB has developed complex software called Mosaic that mines myriad online sources (from press releases and social networks to job boards and court filings) to come up with one, algorithmically derived score that measures a private company’s health. Forbes married Mosaic’s data-crunching with old-fashioned reporting to assemble a list of rising stars with bright growth prospects. To view the complete list, please visit www.forbes.com/ampc.

About Pricelock

Pricelock, headquartered in Silicon Valley, CA, is the leader in providing online fuel and energy solutions to businesses of all sizes. By leveraging technology and energy market expertise, coupled with deep experience in the energy markets, Pricelock is bringing efficiency and empowering energy buyers and sellers worldwide. Pricelock Marketplace is the first customized, online energy-auction platform that allows utilities, power plants, government and large commercial and industrial companies to buy and sell both natural gas and motor fuels. Pricelock’s award-winning solutions have been recognized by the leading industry trade organizations, including Platts Global Energy Awards, “hottest companies” in Silicon Valley, and Web Marketing Standard of Excellence award. A full suite of Pricelock’s solutions can be found at www.pricelock.com.

Category
Company News Release