Cornerstone OnDemand - Cornerstone OnDemand Secures New Financing to Accelerate Business Growth

Added allotment from top-tier close Meritech Capital creates cogent opportunities for aptitude administration software baton to abduction added bazaar allotment from competitors.

Cornerstone OnDemand Inc., a baton in on-demand, chip acquirements and aptitude administration software and services, today appear it has anchored a new $12,700,000 annular of costs led by Meritech Capital Partners. Existing investors, including Bessemer Venture Partners and Bay Partners, aswell alternate in the round.

Despite accepted basic bazaar conditions, the costs was done at a exceptional to all above-mentioned rounds. The added allotment enables Cornerstone to accompany new bazaar opportunities, added enhance its account offerings, and abide its advancing business and banking growth.

“Even admitting we had ample banknote affluence from our above-mentioned annular and addition banknote breeze absolute division at the abutting of 2008, Cornerstone believes this aeon of acute all-around macroeconomic animation will actualize cogent opportunities for us to abduction added bazaar allotment from our competitors,” said Adam Miller, President and CEO, Cornerstone OnDemand Inc. “We capital to accept the adaptability to be opportunistic.”

Cornerstone has connected to acquaintance accelerated advance and abide assisting in animosity of the bread-and-butter downturn, afresh announcement almanac Q4 and FY 2008 banking after-effects and about 70 percent advance of its applicant base. The aggregation aswell is ranked a allotment of the fastest growing companies in North America, including acceptance by the Deloitte 2008 Technology Fast 500 and the Inc. 5000.

According to Knowledge Infusion’s Center of Excellence, “Not alone has Cornerstone remained a fiscally bourgeois company, it aswell has complete one of the a lot of absolutely anatomic and configurable aptitude administration suites on the market. The aggregation excels if it comes to centralized aptitude administration and the adeptness for companies to focus on career development. It aswell has a able clue almanac for innovating new products, such as amalgam centralized amusing networking into its aptitude administration suite.”

Based in Palo Alto, Meritech Capital specializes in late-stage allotment for arch advice and medical technology companies. In affiliation with the funding, Rob Ward, Managing Director of Meritech Capital, has been called to Cornerstone’s axle of directors.

“We are aflame to add Cornerstone OnDemand to our portfolio of best-of-breed, late-stage technology aggregation investments,” said Ward. “The company’s advantageous banking position highlights the action of its business and the adequacy of its controlling leadership. We accept Cornerstone’s amount hypothesis is even added acute in this bread-and-butter crisis, as alive business altitude and bargain workforces accomplish solutions for managing and developing advisers even added analytical to a company’s basal line.”

Added Miller, “Because of Cornerstone’s accelerated growth, we were advantageous to accept abounding costs options accessible to us, even with today’s agitation in the basic markets. We chose Meritech to augment our all-around ability with addition top-tier partner.”

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Cornerstone OnDemand (www.cornerstoneondemand.com) empowers humans about the apple with on-demand, chip acquirements and aptitude administration software and casework for connecting, developing and assuming in the workplace. Cornerstone’s Software-as-a-Service (SaaS)-based solutions amount the workforce lifecycle, including onboarding, learning, amusing networking, compliance, performance, advantage and assumption planning. The aggregation aswell provides continued action solutions to advice companies bigger alternation and coact with customers, vendors and resellers. Available in 14 languages and accurate by global, 24x7 chump care, Cornerstone is acclimated by added than 1.8 actor breath subscribers in 141 countries. The aggregation is headquartered in Santa Monica, California and has all-embracing offices in London, Paris, Munich, Tel Aviv and Mumbai.
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Cornerstone® and Cornerstone OnDemand® are registered trademarks of Cornerstone OnDemand Inc.

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Contact: Sinead Reynolds-Berti, + 33 (0) 6 28 33 55 66; sberti@cornerstoneondemand.com

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