UK Training Industry Press Releases

Santa Monica, Calif., March 16, 2009 - Cornerstone OnDemand Inc. <http://www.cornerstoneondemand.com/> , a leader in on-demand, integrated learning and talent management software <http://www.cornerstoneondemand.com/cornerstone-advantage>  and services, today announced it has secured a new $12,700,000 round of financing led by Meritech Capital Partners <http://www.meritechcapital.com/> .  Existing investors, including Bessemer Venture Partners <http://www.bvp.com/>  and Bay Partners <http://www.baypartners.com/> , also participated in the round.

Despite current capital market conditions, the financing was done at a premium to all prior rounds. The added funding enables Cornerstone to pursue new market opportunities, further enhance its service offerings, and continue its aggressive business and financial growth.

"Even though we had considerable cash reserves from our prior round and another cash flow positive quarter at the close of 2008, Cornerstone believes this period of extreme global macroeconomic volatility will create significant opportunities for us to capture additional market share from our competitors," said Adam Miller, President and CEO, Cornerstone OnDemand Inc.  "We wanted to have the flexibility to be opportunistic."