Cornerstone OnDemand Inc., a leading provider of on-demand learning and talent management software and services, today announced that despite the current economic climate, the company has performed at record levels for the third straight quarter. New client bookings for the first half of 2009 were up by more than 100 percent from the previous year, led by the addition of more than 742,000 new users. Named among the top 100 fastest-growing private software companies in the U.S. by Inc. magazine, Cornerstone also recently announced plans for investing in the company’s continued growth.
“Momentum is in Cornerstone’s favor,” said Adam Miller, President and CEO of Cornerstone OnDemand. “Now is the time for us to step on the gas, advance the company’s strong competitive position, and ready the company for massive growth into 2010. This includes investing in the success of our clients, in the quality and innovation of our software, in direct and indirect sales distribution, and in the development and success of Cornerstone’s valued team members.”
Cornerstone is broadening the scope of its alliances operations in an effort to scale existing partner initiatives, expand the company’s referral network and improve partner enablement. To lead these efforts, the company has promoted former Senior Director of Strategy and Research, David Somers, to Vice President of Alliances and Strategy.
In addition to leveraging its relationship with ADP® Employer Services, the company is expanding its direct sales teams in order to increase Cornerstone’s share of mid-market business. The move supports the recent launch of Cornerstone Business Edition, the company’s talent management solution built specifically for medium-sized organizations. The sales team also is bolstering its vertical expertise, hiring specialists in key market segments such as healthcare and the public sector.
Strategic investments and hires in other areas across the company, such as client services, consulting, product development and software infrastructure, allow Cornerstone to continue to scale its operations, serve its rapidly growing client base, further extend its international reach and significantly expand its market share.
“While other talent management software vendors have faced workforce reductions, mergers and consolidations, Cornerstone has been the exception,” commented Miller. “We are continuing to invest to ensure the success of our clients and the strength of our team.”