Cornerstone OnDemand Gains Momentum Among Fortune 1000 Verticals
Santa Monica, CA - December 21, 2004 - CyberU, a leading provider of integrated on-demand enterprise software solutions for human capital management, today announced that it is on track to double both its annual revenues and its client base in 2004, making this the fourth consecutive year of triple-digit growth for the five-year-old company. This substantial growth can be attributed primarily to the increase in sales of its Cornerstone OnDemand Human Capital Management System, designed to optimize employee development and performance for Fortune 1000 companies.
Cornerstone OnDemand incorporates robust applications for Learning and Performance Management, two of the industry's hottest software markets. The E-Learning and Management Software Suite and Employee Performance Management Software markets have a projected annual growth of 16.7% and 15% respectively according to a recent Gartner Forecast Reports titled: E-Learning Software, Worldwide, 2002-2008; written by Tom Eid; October 6, 2004 and Employee Performance Management Software MarketScope; written by James Holincheck; June 10, 2004.
"In 2003, CyberU had the best learning management system on the market in terms of features, functionality, flexibility and speed of deployment, said Adam Miller, CyberU's President and CEO. "This year we have proven the power of the solution by doubling our customer base and introducing the industry's first fully integrated on-demand employee performance and succession planning solution. We are ahead of the curve and our Fortune 1000 clients recognize the benefits our on-demand HCM model provides."
Over the past year, CyberU's vertical coverage centered around automotive, financial services, consulting and manufacturing, and has expanded to include healthcare, government and workforce management. This continued growth is attributed to Cornerstone's fully-integrated approach to HCM and its ability to seamlessly integrate with pre-existing HRIS systems and enterprise applications, no matter what industry or vertical market a client comes from.