Jump to content

BlackLine Systems

Edit links
From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Maxime Vernier (talk | contribs) at 17:16, 27 July 2018 (Added as a Russell 2000 Component in the infobox). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

BlackLine
Company typePublic
Nasdaq: BL
Russell 2000 Component
IndustrySoftware
Founded2001; 23 years ago (2001)
Headquarters
Woodland Hills, Los Angeles, California
Key people
Therese Tucker, CEO and founder
Marc Huffman, COO
Mark Partin, CFO
ProductsFinancial software
Revenue$177 million[1] (2017)
Number of employees
717[2] (2017)
Websitewww.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. ^ a b c 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.
Retrieved from "https://en.wikipedia.org/w/index.php?title=BlackLine_Systems&oldid=852257225"