Allegro Development Corporation is a maker of

commodity management Commodity management is the process of developing a systematic approach to the entire usage cycle for a group of items. The term is often used interchangeably with category management. It is generally considered as one aspect of the procurement ma ...

software for power and gas utilities; refiners, producers and traders of crude oil, refined products,

soft commodities Soft commodities, or softs, are commodities such as coffee, cocoa, sugar, corn, wheat, soybean, fruit and livestock.Patrick Maul, ''Investing in Commodities'', diplom.de, 2011, p8 table c. The term generally refers to commodities that are grown, rat ...

and agricultural commodities; and industrial energy consumers. Headquartered in

Dallas, Texas Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County ...

; Allegro has offices in Calgary,

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

Houston Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in ...

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

, Zurich and Jakarta along with a global network of partners.

History

Allegro was founded in 1984 by Eldon Klaassen. The company was the first to develop an

enterprise software Enterprise software, also known as enterprise application software (EAS), is computer software used to satisfy the needs of an organization rather than individual users. Such organizations include businesses, schools, interest-based user groups, ...

platform designed specifically to manage trading, risk management, and logistics associated with physical commodities. In 2008, Allegro received a

Series A round A series A round (also known as series A financing or series A investment) is the name typically given to a company's first significant round of venture capital financing. The name refers to the class of preferred stock sold to investors in exch ...

venture funding Venture capital financing is a type of funding by venture capital. It is private equity capital that can be provided at various stages or funding rounds. Common funding rounds include early-stage seed funding in high-potential, growth companies ( ...

from North Bridge Growth and Tudor Growth Equity. In 2014, the firm was recapitalized by Vector Capital, a private equity firm focused on investments in technology companies, and Cerium Technology Ventures, a venture capital firm founded by Allegro founder Eldon Klaassen. Immediately after the recapitalization, James Liu was appointed CEO. Allegro also acquired analytics software company Financial Engineering Associates in April 2018. In May 201
Frank Brienzi
was appointed CEO. The compan

Singapore-based agriculture commodities solution provider JustCommodity in June 2015. In April 2019, Allegro was acquired by ION Group

Products

The company’s primary product is Allegro Horizon, an enterprise-level risk management architecture. The software is used by traders, risk managers, and decision-makers across the globe, including energy industry companies.

2013 Governance Litigation

In June 2013, Eldon Klaassen, founder and former CEO of Allegro, sued the company and directors Mick Pehl, Bob Forlenza, Patrich Simpkins, and Ray Hood for fiduciary breach. On October 16, 2013, Vice Chancellor

J. Travis Laster James Travis Laster is an American Corporate law, corporate lawyer and judge who has served as a Vice Chancellor of the Delaware Court of Chancery since 2009. Legal career Laster graduated from Princeton University in 1991 and the University of V ...

handed dow
a 56-page memorandum opinion
that said the claims asserted by Eldon Klaassen were barred because of his delay in bringing his suit.

References

{{reflist Software companies based in Texas Companies based in Dallas Software companies established in 1984 1984 establishments in Texas Software companies of the United States