High Growth and Top Ranks in Customer Satisfaction for Software-as-a-Service Learning and Talent Management Leader
Santa Monica, CA – February 20, 2008 – Cornerstone OnDemand, Inc., the only proven provider of on-demand, integrated talent management software and services, today announced that the fourth quarter of 2007 was a record quarter and 2007 a record year for the Company.
The Company had record revenues for the quarter and 200% growth from Q4 2006 bookings. Achievements in 2007 included 353% year-over-year growth from 2006 in the number of subscribers of their learning and talent management suite, as well as the renewal of 97% of the Company’s client base.
Other key milestones in 2007 included:
-- Cornerstone raised $32 million in new financing. The profitable company has used the funding to speed growth and aggressively expand internationally.
-- Examples of 2007 customer wins include Bank of the West, Bright House Networks, Butterball, California Credit Union, Carilion, DSW Shoes, Flextronics, Great River Energy, Oakwood Worldwide, United Supermarkets, Ticketmaster and WellSpan Health.
-- The Company was named by Inc. as one of the top 5,000 fastest growing private companies in America as well as one of the 100 fastest growing private companies in Los Angeles by the Los Angeles Business Journal.
-- Cornerstone launched market-leading solutions for managing employee onboarding, training the extended enterprise, and managing competencies to meet Joint Commission requirements for healthcare organizations. The Cornerstone for Healthcare people management solution has recently been named a finalist for the SIIA CODiE awards.
-- Cornerstone was named one of three top global talent management suite providers by Bersin & Associates in their new study entitled, “Talent Management Suites: Market Realities, Implementation Experiences, and Vendor Profiles.” Cornerstone received the highest possible rating (four stars) in the completeness of vision, product architecture and customer satisfaction categories.
“We’re proud of our successes in 2007,” said Adam Miller, President and CEO of Cornerstone OnDemand. “Our commitment to our clients and our people, combined with a focus on innovative product development and aggressive global expansion have set the foundation for an even more successful 2008.”
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, compensation and succession 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, greater flexibility, proven reliability and a lower total cost of ownership. Cornerstone’s triple-digit growth has been supported by a market-leading customer retention rate. Leading enterprises such as Aon, Barnes & Noble, DIRECTV, Honda, Pitney Bowes and Smith Barney count on Cornerstone to help them achieve organizational excellence and competitive advantage. Cornerstone OnDemand is headquartered in Santa Monica, California and has international offices in London, Paris, Munich and Tel Aviv. For more information, please visit www.cornerstoneondemand.com.
Cornerstone OnDemand, Inc.