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Media
Centre
PRESS INFORMATION
ISSUED ON BEHALF OF:
Cornerstone OnDemand
Media Contacts:
Sinead Reynolds-Berti
Cornerstone OnDemand
+ 33 (0) 6 28 33 55 66
sberti@cornerstoneondemand.com
Bob Little
Bob Little Press & PR
+ 44 (0) 1727 860405
bob.little@boblittlepr.com
26th August 2009
Cornerstone
OnDemand "Steps on the Gas" to Accelerate Aggressive Growth
Despite economy, Cornerstone achieves record-level success in first
half of 2009, announces strategic investments across the company to
ready growth into 2010.
Santa Monica, Calif., August 26, 2009 - Cornerstone OnDemand Inc., a
leading provider of on-demand learning and talent management software
and services, today announced that despite the current economic
climate, the company has performed at record levels for the third
straight quarter. New client bookings for the first half of 2009 were
up by more than 100 percent from the previous year, led by the addition
of more than 742,000 new users. Named among the top 100 fastest-growing
private software companies in the U.S. by Inc. magazine, Cornerstone
also recently announced plans for investing in the company's continued
growth.
"Momentum is in Cornerstone's favor," said Adam Miller, President and
CEO of Cornerstone OnDemand. "Now is the time for us to step on the
gas, advance the company's strong competitive position, and ready the
company for massive growth into 2010. This includes investing in the
success of our clients, in the quality and innovation of our software,
in direct and indirect sales distribution, and in the development and
success of Cornerstone's valued team members."
Cornerstone is broadening the scope of its alliances operations in an
effort to scale existing partner initiatives, expand the company's
referral network and improve partner enablement. To lead these efforts,
the company has promoted former Senior Director of Strategy and
Research, David Somers, to Vice President of Alliances and Strategy.
In addition to leveraging its relationship with ADP® Employer Services,
the company is expanding its direct sales teams in order to increase
Cornerstone's share of mid-market business. The move supports the
recent launch of Cornerstone Business Edition, the company's talent
management solution built specifically for medium-sized organizations.
The sales team also is bolstering its vertical expertise, hiring
specialists in key market segments such as healthcare and the public
sector.
Strategic investments and hires in other areas across the company, such
as client services, consulting, product development and software
infrastructure, allow Cornerstone to continue to scale its operations,
serve its rapidly growing client base, further extend its international
reach and significantly expand its market share.
"While other talent management software vendors have faced workforce
reductions, mergers and consolidations, Cornerstone has been the
exception," commented Miller. "We are continuing to invest to ensure
the success of our clients and the strength of our team."
Other company highlights include
Global Client Wins: To date, more than 2.7 million active users
in 141 countries use Cornerstone's Software-as-a-Service (SaaS)-based
solutions. Second quarter client wins include American Bankers
Association; Money Advice Trust; New York Presbyterian Hospital;
ValleyCrest; two respected international non-profit organizations; a
UK-based investment and insurance firm; and a leading European
financial services company, among others.
Product Innovation: In May, the company expanded its Succession
Management platform. Designed to help organizations better engage,
motivate and retain valued employees, features such as detailed
resumes, career preferences and job profiles lay the groundwork for
major new functionality focused on employee career management.
Strategic Alliances: Cornerstone has significantly expanded its
global footprint via new strategic reseller relationships with premier
organizations such as ADP® Employer Services, with more than 550,000
clients worldwide, and Australia-based Talent2, the leading talent
management and HR outsourcing firm in the Asia-Pacific region.
Empowering Communities: The company continues to expand the
Cornerstone OnDemand Foundation, which leverages the company's
expertise in workforce development, education and software deployment,
as well as other organizational assets, for philanthropic and community
benefit. United Way of the Bay Area and Goodwill Industries of San
Francisco, San Mateo and Marin Counties have joined Teach for America,
Oxfam America and Save the Children as strategic non-profit partners of
the Foundation.
For more information about Cornerstone OnDemand, visit
www.cornerstoneondemand.com. To follow Cornerstone OnDemand on
Twitter, go to
http://twitter.com/cornerstoneinc. To read Cornerstone OnDemand's
talent management blog, visit
http://www.cornerstoneondemand.com/blog
About Cornerstone OnDemand
Cornerstone OnDemand empowers people around the world with on-demand,
integrated learning and talent management software and services for
connecting, developing and performing in the workplace. Cornerstone's
Software-as-a-Service (SaaS)-based solutions span the workforce
lifecycle, including onboarding, learning, social networking,
compliance, performance, compensation and succession planning. The
company also provides extended enterprise solutions to help companies
better train and collaborate with customers, vendors and resellers.
Available in 16 languages and supported by global, 24x7 customer care,
Cornerstone is used by more than 2.5 million active subscribers in 141
countries. The company is headquartered in Santa Monica, California and
has international offices in London, Paris, Munich and Tel Aviv.
To visit Cornerstone's
UK Web site, go to
http://www.cornerstoneondemand.co.uk/
Further information
from:
Sinead Reynolds-Berti, Cornerstone OnDemand, + 33 (0) 6 28 33 55 66;
sberti@cornerstoneondemand.com
Bob Little, Bob Little
Press & PR, + 44 (0) 1727 860405;
www.boblittlepr.com
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