Pricelock recognized as one of Forbes America's Most Promising Companies!
Pricelock has been recognized by Forbes magazine as one of America's Most Promising Companies after a rigorous evaluation of thousands of privately-held U.S. businesses in varying stages of development and from a multitude of different industries. Pricelock's compelling business model, strong management team, notable customers, strategic partners and precious investment capital were used as the key criteria for award recipient selection.
"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.
"This award is really an acknowledgement of Pricelock's customers," said Naveen Agarwal, CEO of Pricelock. "Their continued business and willingness to collaborate have allowed Pricelock to leverage technology to create great solutions for buyers and sellers of natural gas, motor fuels and other energy commodities. Just as Amazon transformed the consumer retail industry, Pricelock is excited to be the force behind the transformation of the energy markets."