Online Fuel Hedging Company Pricelock Raises $12 Million

Posted Mar 16, 2011

Pricelock is an online fuel hedging company that has raised $12 million in Series B funding. The investment was provided by Barclays, RenaissanceRe Ventures, and Travelers Insurance. Artiman Ventures, a previous investor, participated in this round as well. Pricelock allows small and medium-sized businesses to control fuel costs. “Each month if the National Average fuel price goes above your Protection Price, Pricelock transfers the difference straight into your bank account. If prices go below your Protection Price, you do not get a pay-out but since you are not pre-purchasing fuel you are benefitting from the lower price at the pump,” states Pricelock in the demo video below: