BlackLine IPO Could Be Weeks Away

Earlier this month, reports surfaced that enterprise accounting company BlackLine is headed for an IPO, with Reuters citing unnamed sources. Those reports have surfaced again at SiliconANGLE, which highlighted rumors that the float could value the company at more than $1 billion.

According to those unnamed sources, BlackLine could launch its IPO as early as next month.

Reports by SiliconANGLE pointed to a recent surge in IPO plans for technology startups, such as cloud information technology company Apptio Inc., which debuted on the Nasdaq late last week. Earlier, The Trade Desk, which provides Big Data and advertising technology, also made its initial public offering.

Plans for BlackLine, however, remain guarded, with representatives from the company declining to comment on the rumors. But sources said Goldman Sachs Group has been tapped to guide the company’s IPO.

BlackLine recently released a report that found enterprises aren’t taking full advantage of their accountants, despite survey respondents acknowledging the skills and knowledge these professionals hold.

“The survey underscores that finance and accounting teams are crucial to future business growth,” the company’s CEO, Therese Tucker, said in a statement earlier this month. “But many mid-sized and large company decision-makers are not fully leveraging this talent.”

Reports of BlackLine’s IPO plans coincide with confirmation from corporate travel and expense management company Coupa that it, too, plans to go public. It said in its filing that the company does not expect to turn a profit in the near future, and analysts have said that they expect Coupa to continue focusing on strategic partnerships and acquisitions to boost its value, integrating new capabilities and technologies onto its platform.

Coupa reportedly plans to raise $75 million with its float.