SOURCE: Cornerstone OnDemand

October 16, 2006 09:21 ET

Cornerstone OnDemand Marks Record Growth; Unveils Expansion Plans

SANTA MONICA, CA -- (MARKET WIRE) -- October 16, 2006 --Cornerstone OnDemand, Inc., the only proven provider of on-demand, integrated talent management software and services for the enterprise, today unveiled plans to expand all aspects of its operations, with particular emphasis on sales and marketing. The expansion plans have been sparked by the Company's rapid annual growth including increased customer billings of 135% year over year.

"The significant market demand for integrated talent management solutions to optimize workforce performance, combined with the rapid shift to multi-tenant on-demand software, has put Cornerstone at the forefront of the industry," said Adam Miller, President and CEO, Cornerstone OnDemand. "In order to accelerate and manage that growth, we are heavily focused on recruiting for sales and account management positions and will be expanding our consulting and service capabilities."

As the industry's first and only proven provider of on-demand integrated talent management solutions, Cornerstone successfully delivers robust solutions that leverage the benefits of SaaS to leading Fortune 500 organizations across multiple industries. As a result, Cornerstone continues to achieve 100% annual growth of its customer base since the Company's inception in 1999. For the third quarter of 2006, Cornerstone experienced an unprecedented win rate of 79% and anticipates continued momentum in both new business and renewals throughout the remainder of the year.

"We selected Cornerstone for the flexibility and ease of use of their on-demand solution as well as their proven success," said Jane Wulf, Chief Administrative Officer, Scottrade. "Cornerstone's overall flexibility and responsiveness as an organization as well as their willingness to listen to our feedback is unique. We're very pleased with our initial success with Cornerstone and anticipate a long and beneficial relationship."

Cornerstone began laying the groundwork for this expansion earlier this year when it relocated its headquarters to the Santa Monica Water Garden, a large, modern facility in which to house its growing workforce and expanded Consulting Services Group. Those interested in sales, service, consulting or technical positions with Cornerstone OnDemand should contact jobs@cornerstoneondemand.com.

About Cornerstone OnDemand, Inc.

Cornerstone helps organizations to empower their people and optimize workforce productivity by offering a comprehensive suite of talent management solutions for learning, performance, compensation, succession and compliance management, as well as robust reporting and analytics and over 30,000 pre-integrated training titles. Cornerstone's multi-tenant, multi-user on-demand software architecture provides clients with rapid deployments, minimal IT costs, flexibility, reliability, and the lowest total cost of ownership. The Company's triple-digit growth has been supported by a market-leading client retention rate. Leading organizations like Smith Barney, Pitney Bowes, Mt. Sinai, Honda, DIRECTV, Barnes & Noble, and Aon count on Cornerstone to help them achieve organizational excellence and competitive advantage.

For more information, please visit http://www.cornerstoneondemand.com.

Contact Information

  • Press Contact:
    Claire Spina
    PerkettPR, Inc.
    For Cornerstone OnDemand, Inc.
    P: 781-842-3381
    E: Email Contact