Cornerstone OnDemand Announces Record Quarter

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<p><strong>Santa Monica, Calif. &mdash; Oct. 18</strong><br />Cornerstone OnDemand Inc., a provider of on-demand, integrated talent management software and services, has announced a record quarter. </p><p>The company&rsquo;s sales increased 89 percent over the prior year and 128 percent over the prior quarter. <br /> <br />In addition, the company opened offices throughout EMEA and hired Vincent Belliveau to run operations for the region and Sean Jacobson to drive global alliances strategy.<br /> <br />&ldquo;The momentum for the business is palpable &mdash; our marketing and sales operations are stronger than they have ever been, our sales pipeline is the strongest in the company&rsquo;s history and our rising numbers reflect that success,&rdquo; Adam Miller, president and CEO, said. &ldquo;And with our recent funding, we have had the ability to rapidly expand our sales, international and channel operations.&rdquo;<br /> <br />During the third quarter, Cornerstone closed two of the largest deals to date for the company, one in the United States and the other in Europe, representing the addition of more than 200,000 users to Cornerstone&rsquo;s talent management suite.<br /> <br />In mid-September, Cornerstone announced significant new financing in the amount of $32 million. </p><p>The capital is being used to increase sales coverage, expand international operations, build global alliances and accelerate ongoing product development and marketing initiatives. </p><p>The round was led by Bessemer Venture Partners and Bay Partners.</p>

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