BlackLine

BlackLine
Public
Traded as NASDAQ: BL
Russell 2000 Component
Industry Software
Founded 2001 (2001)
Headquarters Woodland Hills, Los Angeles, California
Key people
 Therese Tucker, CEO and founder
Marc Huffman, COO
Mark Partin, CFO
Products Financial software
Revenue $177 million[1] (2017)
Number of employees
 717[2] (2017)
Website www.blackline.com

BlackLine is an American enterprise software company that develops cloud-based accounting software that helps businesses manage their quarterly financial reports.[3][4] The company is headquartered in Woodland Hills, Los Angeles, California, and has 13 offices globally.[5] BlackLine was ranked number 43 on Forbes Cloud 100 list in October 2016.[6]

In May 2016, a Gartner Magic Quadrant report on the 10 major financial corporate performance management solutions ranked BlackLine among the top four "Leaders" with Oracle, IBM and Workiva.[7]

On October 28, 2016, the company underwent an IPO and listed on the Nasdaq under the symbol BL.

History

BlackLine IPO

BlackLine was founded in 2001 by Therese Tucker, a former CTO at SunGard Treasury Systems.[8][9][10] The company functioned with no outside funding until 2013 when the private equity firm, Silver Lake Partners invested more than $200 million in the company.[11] BlackLine reached an agreement to form a strategic alliance with the financial consulting firm McGladrey, in 2015. As part of the alliance, the companies began offering a business process as a service (BPaaS) solution.[12]

In September 2016, the company acquired its European competitor, Runbook for $34 million.[10][13] On September 30, 2016, the company filed for an initial public offering with the U.S Securities and Exchange Commission.[14] On October 28, 2016, BlackLine began trading on the Nasdaq market under the BL ticker symbol.[15]

Operations

BlackLine provides software for more than 2,000 companies including Costco, Kraft Heinz, Under Armour, Sirius XM Holdings.[10] The company creates enhanced financial controls, in contrast to basic general ledger applications. BlackLine's software manages financial data, reconciles balances from sub-systems, ensures accurate and complete closings, and monitors regulatory controls through a system known as continuous auditing. The company's software is cloud-based, primarily running on the Microsoft cloud stack, and meets ISO 27001 standards.[16]

See also

References

  1. ↑ "BlackLine Announces Fourth Quarter and Full Year Financial Results". Blackline. February 15, 2018. Retrieved March 7, 2018.
  2. ↑ "Great Place to Work". June 28, 2017. Retrieved March 7, 2018.
  3. ↑ Chasen, Emily (May 20, 2014). "Silver Lake's BlackLine Systems Expects IPO in 18-20 Months". The Wall Street Journal. Retrieved October 25, 2016.
  4. ↑ Clancy, Heather (December 3, 2014). "Could This Cloud Financial Software Reduce Dependence on Spreadsheets". Fortune. Retrieved October 25, 2016.
  5. ↑ Brooks, Steve (August 31, 2016). "Blackline Open For Business in DACH". Enterprise Times. Retrieved November 17, 2016.
  6. ↑ Arrowsmith, Ranica (October 4, 2016). "8 Tech Cos. From Accounting Space Named to Forbes Cloud 100". Accounting Today. Retrieved November 17, 2016.
  7. ↑ Van Decker, John E.; Iervolino, Christopher (May 2016). "Magic Quadrant for Financial Corporate Performance Management Solutions". Gartner. Gartner. Retrieved 28 September 2016.
  8. ↑ Burns, Hilary (August 28, 2014). "How Hiring Impatient-Even Crazy-Employees Helped This Business Gain 900 Clients". Biz Women. Retrieved November 17, 2016.
  9. ↑ Kuo, Benjamin (July 23, 2009). "Interview Therese Tucker, BlackLine Systems". Socal Tech. Retrieved November 17, 2016.
  10. 1 2 3 Chen, I-Chun (October 3, 2016). "BlackLine Files for An IPO to Raise Up to $100 Million". L.A. Biz. Retrieved November 17, 2016.
  11. ↑ Murphey, Maxwell (August 15, 2016). "Silver Lake Cash to Help BlackLine Hire, Grow: CFO". The Wall Street Journal. Retrieved November 17, 2016.
  12. ↑ Lee, Danielle (September 3, 2015). "McGladrey, BlackLine Form Strategic Alliance". Accounting Today. Retrieved November 17, 2016.
  13. ↑ Madler, Mark (September 2, 2016). "Acquisition Expands BlackLine's Offerings". San Fernando Valley Business Journal. Retrieved November 17, 2016.
  14. ↑ "Accounting Software Maker BlackLine Files For IPO". Fortune. September 30, 2016. Retrieved November 17, 2016.
  15. ↑ Deagon, Brian (October 25, 2016). "ZTO Express, BlackLine Headline Busy Week In IPOs". Investor's Business Daily. Retrieved November 17, 2016.
  16. ↑ Sommer, Brian (February 20, 2015). "BlackLine:The Big, Understated Force in Cloud Financial Software". ZD Net. Retrieved November 17, 2016.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.