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BlackLine, Inc. (Nasdaq: BL) is the premier provider of enhanced financial controls and automation (EFCA) software, dedicated to modernizing the financial close process for businesses worldwide. With its unified cloud platform, BlackLine offers a wide range of solutions that streamline financial operations, ensuring balance sheet integrity and enhancing the accuracy and efficiency of accounting functions.
Recognized as a leader in EFCA and Financial Corporate Performance Management (FCPM) by Gartner, BlackLine serves over 4,400 customers globally, delivering innovative solutions that automate repetitive tasks, unify data, and provide real-time control and transparency. The company's Software as a Service (SaaS) offerings include account reconciliations, variance analysis, journal entry capabilities, and data matching, enabling customers to transition to a continuous accounting model.
Recent achievements include the introduction of the Journals Risk Analyser, an AI-powered tool that provides insights and anomaly detection for journal entries, enhancing compliance and audit efficiency. Additionally, BlackLine's Financial Reporting Analytics solution is now available as an SAP Solution Extension, further solidifying its partnerships and expanding its reach.
BlackLine continues to build on its commitment to digital finance transformation with the appointment of Sumit Johar as Chief Information Officer, bringing over two decades of enterprise cloud and automation experience to the leadership team.
Headquartered in Los Angeles, BlackLine operates in major business centers including New York, London, Paris, Frankfurt, Tokyo, and Sydney, with a mission to lead the market in modern finance solutions and drive innovation for the Office of the CFO.
BlackLine, Inc. (Nasdaq: BL) is set to announce its third-quarter financial results for the period ending September 30, 2020, after market close on October 29, 2020. A conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET, with a live webcast available on their investor relations website. BlackLine continues to be a leader in providing cloud-based financial solutions, helping over 3,100 customers unify data and automate accounting processes. The company is recognized in Gartner’s 2019 Magic Quadrant for Cloud Financial Close Solutions.
BlackLine, Inc. (Nasdaq: BL) has acquired Rimilia, an AI-powered accounts receivable automation platform, for $150 million. The acquisition enhances BlackLine's cash lifecycle automation capabilities, allowing for improved data integrity and work efficiency. Rimilia's solution optimizes cash flow management especially crucial in current economic conditions. The deal, funded with existing cash, involves a $120 million upfront payment and up to $30 million in earnouts based on performance. No immediate financial impact is expected on Q3 results, and further financial details will be discussed during the upcoming earnings call on October 29, 2020.
On September 15, 2020, BlackLine CEO Therese Tucker was named a judge for the prestigious Forbes Cloud 100 list for the fourth consecutive year. This list, created in collaboration with Bessemer Venture Partners and Salesforce Ventures, recognizes the top 100 private cloud companies globally. Tucker will also speak at the virtual awards ceremony. The evaluation criteria for the judges included estimated valuation, operating metrics, people and culture, and market leadership. BlackLine, recognized as a leader in financial close solutions, has over 3,100 customers.
BlackLine, Inc. (Nasdaq: BL) has announced the opening of nominations for the 2020 Modern Accounting Awards, recognizing customers who have successfully transformed accounting through BlackLine's cloud platform. Nominations are accepted until October 2, 2020, with winners to be showcased during the BeyondTheBlack™ 2020 event from November 17-19. Award categories include Unifier, Accelerator, Closer, and Transformer, each highlighting innovative approaches to modern accounting practices.
BlackLine, Inc (Nasdaq: BL) has announced its participation in two upcoming virtual investor conferences. The first is the KBCM Virtual Future of Technology Series on September 9, 2020, at 7:40 a.m. PDT. The second is the Jefferies Software Virtual Conference on September 14, 2020, at 10:30 a.m. PDT. Both presentations will be webcast live and archived on the company's investor relations website. BlackLine specializes in cloud-based financial solutions that enhance accounting processes for enterprises, boasting over 3,100 clients.
Cloud enterprise software veteran Mel Zeledon has joined BlackLine (Nasdaq: BL) as senior vice president of channels and alliances. Zeledon brings over 35 years of experience, including a recent role at Workday, where he boosted revenues by 40% year-over-year. He will focus on driving partnership initiatives globally for BlackLine, which is known for its accounting automation solutions. Zeledon aims to leverage BlackLine's partner ecosystem to enhance customer success and experience in the fast-growing market.
BlackLine, Inc. (Nasdaq: BL) has been recognized by the Los Angeles Business Journal as one of the 'Best Places to Work in Los Angeles' for 2020, being the only enterprise software provider in LA on the list. This recognition is based on employee satisfaction and company culture, with 97% of employees expressing satisfaction and understanding of the company's long-term strategy. The survey also highlighted the company's commitment to employee wellbeing, offering perks like unlimited PTO and comprehensive health benefits.
BlackLine, Inc. (Nasdaq: BL) expanded its global customer base in Q2 2020, adding several large and midsize companies across North America, EMEA, and ASIAPAC. Notable clients include Del Taco and Vistra Energy Corp in North America, with over 277,000 users globally. The company's solutions enhance accountant productivity, mitigate risk, and streamline Finance & Accounting operations, processing nearly three billion transactions in the second quarter. BlackLine is recognized as a leader in cloud financial close solutions, offering modern accounting processes to businesses worldwide.
BlackLine, Inc (Nasdaq: BL) announced the election of Marc Huffman as CEO, effective January 1, 2021. Huffman, who has served as president and COO since early 2018, will succeed Therese Tucker, the company's founder, who will remain as executive chair. Huffman's leadership is credited with driving BlackLine's growth and strategic initiatives, including partnerships with SAP and expansions in global markets. His extensive SaaS experience is expected to enhance BlackLine's growth trajectory in the financial automation sector.
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