Calabasas, Calif. – October 20, 2010 – Financial software provider BlackLine Systems ranked No. 61 on the Technology Fast 500™, Deloitte’s ranking of 500 of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005–2009.
BlackLine grew more than 2,000 percent during this period under the direction of CEO and Founder Therese Tucker. The company attributes its success to a constant focus on client satisfaction, continuous product innovation and an increasing market demand from organizations looking to improve and streamline the account reconciliation and financial close processes.
“BlackLine and the other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth,” said Phil Asmundson, vice chairman and Deloitte’s U.S. technology, media and telecommunications leader. “Deloitte commends BlackLine for this impressive accomplishment.”
With just over 60 employees on staff, Tucker boasts a client roster at BlackLine that includes such household names as AT&T, Boeing, Costco, Cox Communications, eBay and Northrop Grumman. BlackLine revenues were up by more than 50 percent in 2009. The 2009 growth follows two sequential previous years where the company’s revenues doubled.
“BlackLine has proven itself to be one of the fastest-growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™,” said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
Overall, Technology Fast 500™ award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from 2005 to 2009, with an average growth of 2,361 percent.
For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com.