Cornerstone OnDemand Raises $32M

Santa Monica-based Cornerstone OnDemand said this morning that it has completed $32M in new financing for the firm, in a round led by Beseemer Venture Partners and Bay Partners. Cornerstone is a provider of on-demand, software-as-a-service which allows companies to manage their employees. According to Cornerstone OnDemand, the new funding will go towards speeding growth and international expansion. Byron Deeter of Bessemer and Neil Sadaranganey of Bay Partners will join the firm's board of directors in conjunction with the funding. More information »