LOS ANGELES, April 23, 2014 /PRNewswire/ -- The Los Angeles Chapter of the Association for Corporate Growth (ACG LA) has named BlackLine Systems the recipient of the '2014 Deal of the Year' award following the announcement last year that the enterprise financial software company attracted a major strategic investment from Silver Lake Sumeru, the mid-market, technology-focused arm of global private equity leader Silver Lake.
Each year, ACG LA honors "exceptional companies" in the Los Angeles region, choosing from a pool of more than 100 deserving nominations. Other 2014 award recipients include the Los Angeles Dodgers, Live Nation Entertainment and e-commerce leader Newegg.com.
Under the direction of CEO and Founder Therese Tucker, BlackLine revenues have increased more than 50 percent annually for the past seven years. The company has seen substantial revenue increases since moving to a SaaS (Software-as-a-Service) business model in 2008. The recent equity investment from Silver Lake Sumeru is intended to support the company's next phase of rapid growth.
Accounting/Finance managers and Compliance executives around the world use the BlackLine Financial Close Suite to automate traditionally manual, labor-intensive and spreadsheet-driven account reconciliation and financial close processes. BlackLine continues to add clients at an aggressive pace with a long list of global companies already on board including Aflac, AT&T, Boeing, British Gas, eBay, Eurostar International, Lafarge, Northrop Grumman, Qantas Airways and T-Mobile.
Tucker's passion, persistence and effort have paid off with BlackLine ranking No. 15 on the 2012 list of the '50 Fastest' Women-Owned/Led Companies in North America, as reported in The Wall St. Journal. In addition, BlackLine recently made the Software 500 list of the "largest and best performing software and service providers in the world" for the third year in a row and also has made the prestigious Inc. 500/5000 for the past six years, joining the ranks of such companies as Jamba Juice, Microsoft and Patagonia.
Tucker accepted the award at the ACG LA Annual Awards Ceremony last night at the Walt Disney Concert Hall in downtown Los Angeles.
About the Association for Corporate Growth
Founded in 1954, the Association for Corporate Growth is the premier global association for professionals involved in corporate growth, corporate development, and mergers and acquisitions. Today, ACG stands at over 12,000 members from corporations, private equity, finance and professional service firms representing Fortune 500, Fortune1000, FTSE 100, and mid-market companies in 53 chapters in North America and Europe.
About BlackLine Systems
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. With more than 85,000 users in over 100 countries, BlackLine software applications complement existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems.
Though ERP-agnostic, the BlackLine Financial Close Suite for SAP® Solutions is an SAP-endorsed business solution – joining the ranks of fewer than 40 other software offerings globally that are endorsed by the enterprise application software leader. BlackLine also is an SAP Gold Partner.
BlackLine offers clients its enterprise-class financial software in a simple and secure SaaS (Software-as-a-Service) 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.
BlackLine headquarters are in Los Angeles, with offices in Atlanta, Chicago, London, Melbourne, New York City and Sydney to serve the company's growing global client base. For more information, please visit www.blackline.com.
SOURCE BlackLine Systems