Company: BlackLine, Woodland Hills, CA USA
Nomination Category: Employer of the Year – Accounting
Employer of the Year Essay:
Blackline was created by a single mother of two kids with a degree in computer science from the University of Illinois. She took her tech company public at the age of 55. Therese Tucker built BlackLine on the promise that your family commitments have a seat at the table. And it has proven to be very successful. Our market cap is currently $3.1 billion.
Therese Tucker rose to CTO of a major financial software company before retiring at the age of 40 – her marriage broke down and she was divorced with two small children. At that point she founded BlackLine, writing the code for the original software. - 15 years later she took her company public (Nasdaq: BL) becoming one of the first tech female founder/CEOs in the U.S. to take a company public.
As a single mother, Therese created BlackLine – an accounting software company focused on automation in the finance and accounting space, with a focus on two things - our customers and the well-being of our employees. As a single mother in 2001, she was ahead of the game in giving employees flexibility to do their jobs AND live their lives.
To best understand our culture, you need to understand Therese. She founded and bootstrapped BlackLine in 2001 (meaning she personally funded the entire enterprise) after retiring from a career where she had advanced to the position of CTO of a major financial services software company. BlackLine was the first cloud-based software focused on back-office automation for Finance & Accounting. The idea was simple –software that automates many of the rote, manual processes accountants and other finance professionals have to complete in order to achieve a fast, efficient and accurate financial close. Yet the idea was revolutionary in that it provided what every business needs – accurate data and efficient processes, all while reducing costs. Therese was among the first to show corporations the benefits of financial automation – automate all of the rote, manual processes your employees do, and allow them to focus their time on more meaningful work.
The fact that Therese was a single mother when she founded the company explains our benefits and culture - BlackLine goes above and beyond to help our employees balance and grow their lives based on the values Therese had when founding the company. Our company has always existed on the understanding that if something comes up in your personal life, you can always work from home, take time off, do anything you need to do.
Some unique benefits we have include:
• Work study-abroad program designed to provide short-term international opportunities for qualified employees to take on a different assignment in one of the 11 countries where BlackLine currently operates
· Unlimited PTO
· 100% paid medical, dental, vision for employees
• Work from home Fridays – most exempt employees can work from home every other Friday
• $3000 annual reimbursement for professional development
We believe our culture comes from the fact that we were founded by a single mother in her early 40s. Our culture values honesty and respectfulness with a rule that no ass*oles are allowed. We respect that the time our employees have is valuable and give them flexibility to do their work AND do their lives.
We've been awarded as a great workplace by outets such as Fortune and the Los Angeles Business Journal.
Because of all of the above, we believe BlackLine is a great employer. Give your employees the flexibility to live their lives, and they will love working for you.
Employer of the Year Summary
-Voluntary turnover of less than 4%
-Revenue growth of 26%
-Continued improvement in profitability, with a non-GAAP net income margin of 9%
-Q2 saw a record number of expansions deals among our large, existing customers
-We added 106 net new customers and now serve 2,800 customers globally
-Our dollar-based net revenue retention was in line with our expectations at 108%, and renewal rates remained high at 97%