BlackLine Systems Ranks No. 111 Fastest Growing Company in North America on Deloitte’s 2011 Technology Fast 500™
FINANCIAL SOFTWARE PROVIDER ATTRIBUTES ITS NEARLY 1,000 PERCENT REVENUE GROWTH TO A CONSTANT FOCUS ON CLIENT SATISFACTION, CONTINUOUS PRODUCT INNOVATION, INCREASING MARKET DEMAND
LOS ANGELES – Oct. 19, 2011 – Financial software provider BlackLine Systems ranked No. 111 on Deloitte’s Technology Fast 500™ ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The 2011 rankings are based on percentage fiscal year revenue growth from 2006 to 2010.
BlackLine grew nearly 1,000 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 their account reconciliation and financial close processes.
“BlackLine, like all 2011 Technology Fast 500™ companies, has excelled in fostering innovation and channeling it into spectacular growth – against the backdrop of one of the most challenging economies in history,” said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. “Deloitte recognizes BlackLine for its remarkable accomplishment.”
BlackLine revenues were up by 50 percent in both 2009 and 2010. The company also is already recording strong growth in 2011, with its sales team closing nearly as many new deals in the first six months of 2011 alone as in the entire calendar year 2010. The 2009 growth follows three sequential previous years where the company’s revenues doubled.
“We are pleased to honor BlackLine as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, BlackLine has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”
BlackLine continues to add clients at an aggressive pace with a long list of global companies already on board including AT&T, Boeing, Costco, eBay and Northrop Grumman. BlackLine previously ranked No. 61 nationally, third in Los Angeles, as a Technology Fast 500™ award winner for 2010.
Overall, 2011 Technology Fast 500™ companies achieved revenue growth ranging from 134 percent to 70,211 percent from 2006 to 2010, with an average growth of 1,736 percent.
About Deloitte’s 2011 Technology Fast 500™
Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or
CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Founded in 2001, BlackLine Systems was the first to develop and offer a commercially available Balance Sheet Account Reconciliation solution. An experienced provider of software to companies from the Fortune 100 to beyond the Fortune 1,000, BlackLine provides quick-to-implement, scalable and easy-to-use applications that automate the entire financial close process to help improve financial controls for companies of all sizes. BlackLine software applications complement existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems.
BlackLine offers clients its enterprise-class software in a simple and secure OnDemand/SaaS platform. With a proven track record and a commitment to customer success, BlackLine seeks to reduce the burden the financial close places on accounting and finance professionals. For more information, please visit www.blackline.com.