Al Subbloie

Founder and Chief Executive Officer Budderfly

Last Reviewed: September 24, 2026

Executive Summary

Al Subbloie is the founder and chief executive of Budderfly, a Shelton, Connecticut company that sells energy efficiency as a service: it upgrades commercial facilities with high-efficiency equipment at no upfront cost to the customer and earns its return from the energy that is no longer wasted. The company reports more than 9,000 locations, more than $1 billion in total capital raised and, according to Hartford Business Journal, more than $250 million in annual revenue. Budderfly is his second act as a company builder in Connecticut. For sixteen years before it he ran Tangoe, the telecom expense management software company he co-founded, taking it through a NASDAQ listing to more than $200 million in revenue before resigning in 2016.

Career Highlights

• Founder and CEO of Budderfly, which reports more than $1 billion in capital raised, including a $550 million debt facility expansion led by Global Infrastructure Partners, part of BlackRock, in April 2026.
• Budderfly reports more than 9,000 locations and more than $378 million invested in facility upgrades.
• Co-founded Tangoe and served as its President and CEO from October 2000 to May 2016 and as Chairman from March 2010; Tangoe credited him with leading it from start-up through IPO to more than $200 million in annual revenue.
• President and CEO of Information Management Associates, a call center software company, from 1990 to 2000, and of FreeFire, which he sold to TeleTech Holdings in 2000.
• Named to Hartford Business Journal’s 2026 Power 50.

Professional Journey

Subbloie was born in New Haven and studied economics at Trinity College in Hartford. He ran his first company, Information Management Associates, as President and CEO from 1990 to April 2000; IMA sold enterprise call center software globally, and he also sat on the board of buyingedge.com, a reverse auction subsidiary of IMA, until its sale in May 2000. In 2000 he led FreeFire, a customer relationship management software provider, from April until its sale that July to TeleTech Holdings, where he briefly served as Executive Vice President of Business Development.

He joined Tangoe’s board in February 2000 and became its President and CEO that October, as a co-founder. Tangoe built software and services for managing corporate telecommunications and IT spending, and he led it for sixteen years, adding the chairmanship in March 2010. By his own account in a later interview, Tangoe had grown to around a thousand large-enterprise customers and roughly 2,500 employees, managing about $30 billion in annual telecom spend. Alongside Tangoe he served on the boards of Acsis, an RFID software company, as chairman from 2004 until its 2005 sale, and of Operative, an advertising software provider, and chaired the Connecticut Technology Council. On 2 May 2016 he resigned as Tangoe’s Chairman and CEO after the board concluded that the company would benefit in the longer term from a transition to a new chief executive.

Budderfly applies the outsourcing model to energy. Rather than selling efficient equipment, it installs it at its own cost in qualifying sites, with recent customers including hotels and a municipality, and is paid from the resulting savings, so the customer’s energy performance and the company’s revenue move together. The model is capital-intensive, and much of the company’s story is financing: a $55 million debt and preferred equity package arranged by Balance Point Capital in 2019, alongside earlier funding in which Subbloie invested millions of his own money, and in April 2026 a $550 million debt facility expansion led by Global Infrastructure Partners that took total capital raised past $1 billion. The same month, Budderfly began rolling out a battery storage offering at its sites. Speaking to Hartford Business Journal, he argued that the large financial backers were comfortable with the business because of its track record.

Outside work, he has described himself as a keen boater, usually with friends, family and his executive team, and as someone fascinated by astronomy.

Education

Trinity College

Bachelor’s degree, Economics