Leading Talent Management Provider Continues Momentum Through Q3
Santa Monica, CA – October 17, 2007 – Cornerstone OnDemand, Inc., the only proven provider of on-demand, integrated talent management software and services, today announced a record quarter for the Company. The Company’s sales increased 89% over the prior year and 128% over the prior quarter.
“The momentum for the business is palpable. Our marketing and sales operations are stronger than they have ever been, our sales pipeline is the strongest in the Company’s history, and our rising numbers reflect that success,” said Adam Miller, President and CEO of Cornerstone. “And with our recent funding, we have had the ability to rapidly expand our sales, international and channel operations.”
During the third quarter, Cornerstone closed two of the largest deals to date for the Company, one in the U.S. and the other in Europe, representing the addition of over 200,000 users to Cornerstone’s talent management suite.
In mid-September, Cornerstone announced significant new financing in the amount of $32 million. The capital is being used to substantially increase sales coverage, expand international operations, build global alliances, and accelerate on-going product development and marketing initiatives. The round was led by Bessemer Venture Partners and Bay Partners.
Cornerstone’s client acquisition continues to accelerate as the Company expands into new markets. The Company is recruiting in sales, account management, marketing and product development. For more information, visit www.cornerstoneondemand.com/careers.
About Cornerstone OnDemand, Inc.
Cornerstone OnDemand helps organizations to empower their people and optimize workforce productivity with a comprehensive suite of integrated talent management solutions for learning, compliance, performance, succession and compensation management, as well as robust reporting and analytics. Cornerstone also provides over 30,000 pre-integrated training titles. The Company’s multi-tenant, multi-user software as a service (SaaS) architecture provides customers with rapid deployments, minimal IT costs, flexibility, reliability and a lower total cost of ownership. Cornerstone’s triple-digit growth has been supported by a market-leading customer retention rate. Marquee organizations such as Aon, Barnes & Noble, DIRECTV, Honda, Pitney Bowes and Smith Barney count on Cornerstone to help them achieve organizational excellence and competitive advantage. For more information, please visit www.cornerstoneondemand.com.
Cornerstone OnDemand, Inc.