BlackLine To Open Offices In The San Francisco Bay Area With Initial Focus On R&D And Innovation

Cloud accounting automation software leader positions itself for future growth, tapping resources from global technology hub

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BlackLine

May 09, 2019, 09:00 ET

LOS ANGELES and SAN FRANCISCO, May 9, 2019 /PRNewswire/ -- BlackLine, Inc. (Nasdaq: BL) announced today its plan to open an office next month in Pleasanton, Calif. as part of a strategic growth initiative to tap into the resources of the technology-heavy San Francisco Bay Area.

"We've been fortunate to reap the benefits of building BlackLine in the diverse and creative talent pool and culture of Los Angeles and then expanding to other key cities around the world. We are now excited to be able to complement that with the talent and other great resources the Bay Area has to offer," said Therese Tucker, BlackLine CEO. "Our newest office – our 14^th worldwide – will also serve as another R&D center as BlackLine continues to innovate in both technology and products. We expect to see high-value collaboration between northern and southern California teams."

Though the immediate focus will be on hiring engineers and other technologists, with an architecture group, innovation lab and select product teams slated to be based there, BlackLine's Pleasanton, Calif. facility also will house Sales/Marketing, Customer Success and Professional Services employees. Two members of the BlackLine management team will be regular users of the new Bay Area office: Chief Technology Officer Pete Hirsch and Chief Marketing Officer Andres Botero.

"There is a strong network of senior developers, software architects, cloud engineers, data scientists, product managers and UX designers in the San Francisco Bay Area from leading B2B SaaS companies who are ideal candidates for BlackLine's growing Product and Technology teams as we continue to expand our platform, integration, connectivity and cloud services capabilities to better serve customers with their digital financial transformations," said Mr. Hirsch. "Despite the smaller relative size of San Francisco compared to Los Angeles, the available pool of relevant talent likely doubles that currently available in LA, due to the specialized and concentrated technology focus in the Bay Area."

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About BlackLine

BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralizing and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize organizations. The company is recognized by Gartner as a Leader in its 2018 Magic Quadrant for Cloud Financial Close Solutions and as a pioneer in the cloud market for enhanced financial control and automation.

Designed to complement virtually all ERP and other financial systems including SAP, Oracle and NetSuite, BlackLine increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation from within a single, unified cloud platform. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities, BlackLine helps companies modernize accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close.

More than 2,700 companies with users around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements. Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit www.blackline.com.

BlackLine Forward-looking Statements

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "would," "continue," "ongoing" or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans and opportunities.

Any forward-looking statements contained in this press release are based upon BlackLine's current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company's ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading "Risk Factors" in our Annual Report on Form 10-K. Additional information will also be set forth in our Quarterly Reports on Form 10-Q.

Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE BlackLine