Company also announces record growth figures for its second quarter
Santa Monica, Calif., September 9, 2008 – Cornerstone OnDemand® Inc., a leader in on-demand, integrated talent management software and services, today announced it has again been placed on Inc. magazine’s Inc 5000 list of fastest growing private companies in America. Recognized for its 221 percent billings growth from 2004 to 2007, as well as its 97 percent client retention rate and large, global deployments, Cornerstone was ranked at no. 1,751 on the overall list – nearly 500 positions ahead from the previous year. Additionally, Cornerstone was ranked among the top 100 fastest-growing private companies in the Los Angeles-Long Beach-Santa Ana, Calif. region.
The Inc. 5000 rankings cap off an impressive Q2 2008 for Cornerstone, which includes record growth figures, significant client wins, an expanded user base and extended global reach. In the second quarter, the company’s client billings were up 106 percent from the previous year, with new account bookings increasing by 300 percent from 2007. New customer wins for the quarter included companies such as Axiom, Broadlane, Curtiss-Wright Corporation, Equitable Life & Casualty, HeidelbergCement, and Walton Construction Company, LLC, among others. To date, more than 1.3 million active subscribers in 141 countries around the world use Cornerstone’s integrated talent management solutions, making Cornerstone one of the largest global pure-play Software-as-a-Service (SaaS) providers.
“The Inc. 5000 rankings, along with the company’s impressive revenue and user growth, further underscore Cornerstone’s notable momentum in the past year,” said Adam Miller, president and CEO of Cornerstone OnDemand Inc. “The company’s success is due in part to our continued evolution of the Software-as-a-Service model, which allows for rapid, strategic and scalable deployments of integrated talent management systems. And by acting as a trusted advisor to our global clients, not only are we able to deliver best-in-class service and support, we also are able to leverage their input to drive product innovation.”
Cornerstone recently gathered its clients and partners to discuss best practices and emerging trends in talent management, as well as preview new product features, at the company’s annual Convergence 2008 conference. Product updates launched in Q2 as part of the spring 2008 product release included innovations in succession and compliance management, such as strategic talent pooling and enhanced certification management.
In addition to the Inc. 5000 recognition, Cornerstone recently was positioned in the “Leaders” Quadrant of the Gartner Magic Quadrant for Corporate Learning Systems (CLS) report (June 2008), which positions vendors according to their ability to execute and their completeness of vision.