BlackLine Systems Makes Deloitte’s Prestigious Technology Fast 500™ List of the Fastest Growing Companies in North America for 4th Year in a Row
Enterprise-class financial software company attributes 400 percent 4-year revenue growth to constant focus on client satisfaction, increasing demand for SaaS offering worldwide
LOS ANGELES – Nov. 13, 2013 –Financial software company BlackLine Systems ranked No. 236 on Deloitte’s 2013 Technology Fast 500™ ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The 2013 rankings are based on percentage fiscal year revenue growth from 2008 to 2012. BlackLine grew more than 400 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 and increasing market demand for its enterprise-class SaaS (Software-as-a-Service) offering in North America, as well as in the APAC (Asia-Pacific) and EMEA (Europe, Middle East and Africa) regions from organizations looking to improve and streamline their account reconciliation and financial close processes.
“The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next.”
This is BlackLine’s fourth year in a row on the prestigious Technology Fast 500™. BlackLine also just made the Los Angeles Business Journal annual list of the Top 100 Fastest Growing Private Companies for the fifth year in a row, ranking No. 33 in the Greater Los Angeles region and No. 9 in the San Fernando Valley. In addition to strong revenue growth, the company also quadrupled its headcount in the past few years, adding jobs in the Los Angeles community, as well as in London and Sydney.
BlackLine revenues have been up by more than 50 percent year over year for the past six years and are on track to grow by at least that pace in 2013. BlackLine continues to add clients at an aggressive pace with a long list of household name organizations already on board including AT&T, Boeing, eBay and Northrop Grumman. The company has added a number of large internationally based organizations, as well, such as Eurostar International in the United Kingdom, Lafarge SA in France and Quantas Airways in Australia. Over the past several years, many large enterprises have signed on to implement the BlackLine Financial Close Suite in a SaaS environment across their global organizations.
“The fastest growing companies in the United States are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace; and software, biotech/pharma and Internet companies continue to be at the forefront,” added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. “The companies excelling in these sectors have an entrepreneurial mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year.”
Overall, 2013 Technology Fast 500™ companies achieved revenue growth ranging from 137 to 208,897 percent from 2008 to 2012, with an average growth of 2,600 percent.
The Deloitte ranking comes on the heels of the company’s announcement last week that the BlackLine Financial Close Suite for SAP® Solutions has become an SAP-endorsed business solution – joining the ranks of fewer than 40 software offerings globally.
About Deloitte’s 2013 Technology Fast 500™
Technology Fast 500, conducted by 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 2008 to 2012.
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.