Cornerstone OnDemand announces record fourth quarter & 2007 calendar year
Cornerstone OnDemand, the provider of on-demand, integrated learning and talent management (ITM) software and services, has announced that the fourth quarter of 2007 was a record quarter and 2007 a record year for the company, with high growth and top rankings in customer satisfaction for Software-as-a-Service (SaaS) learning and talent management provision.
Cornerstone OnDemand had record revenues for the quarter and 200 per cent growth from Q4 2006 bookings. Achievements in 2007 included 353 per cent year-on-year growth from 2006 in the number of subscribers of their learning and talent management suite, as well as the renewal of 97 per cent 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.
• 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 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.”
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