FuelQuest Raises $13 Million

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Downstream software company FuelQuest has received $13 million in funding from Lehman Brothers Venture Group and Accenture Technology Ventures. The Houston-based company raised more than $14 million last year. FuelQuest’s software is used for online ordering of fuels and other downstream e-business services. The company’s biggest customer is Equilon Enterprises, which is offering the software to its 1,300 refined products distributors in the US. Separately, FuelQuest recently created a new business unit to sell its software to chemical companies. FuelQuest is providing electronic catalog, online ordering, and other services to the chemicals marketing and distribution industry.

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