Wednesday, June 10, 2009
Cornerstone OnDemand Trumpets Customer Bookings
Santa Monica-based Cornerstone OnDemand, which develops software-as-a-service for managing employee learning and other human resources functions, announced today that it had its best, first quarter results in the firm's history. The privately held firm claimed it had an increase of 185 percent in new client bookings in its Q1, which ended March 31st. The firm--which did not release financials--said it had 2.5 million users using its services in March, which it said was a 250 percent jump from 2008. Cornerstone OnDemand is venture backed by Bay Partners and Bessemer Venture Partners; the firm also claimed it had a record Q4 back in March.