Tuesday, March 3, 2009

Cornerstone OnDemand Claims Gains

Santa Monica-based Cornerstone OnDemand, a privately held firm developing software for human resources and talent management, said today that it had a "record" fourth quarter and fiscal 2008 year. The firm--which did not release its financials--claimed that billings for Q4 were up 90 percent from the prior year, and it was the most profitable quarter in the company's history. The firm also said its billings were up 62 percent from last year, but did not release any numbers. Cornerstone OnDemand's software is used for employee development, compliance, compensation planning, and other related areas. The firm is venture backed by Bay Partners and Bessemer Venture Partners.