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In what looks to be a banner year for IPO filings for Southern California, Santa Monica-based CornerstoneOnDemand filed for an IPO this morning, saying that it is looking to raise up to $115M in an IPO. Barclays Capital, William Blair & Company, Piper Jaffray, Pacific Crest Securities, and JMP Securities.
The firm, which is headed by Adam Miller, also updated its financials, saying it had a net loss of $31.39M on revenues of $32.57M for the nine months ended September 30, 2010. CornerstoneOnDemand is backed by Bay Partners, Bessemer Venture Partners, and Meritech Capital. READ MORE>>.
The firm's latest S-1 shows that the firm had revenues of $32.572M for the nine months ended September 30th, and had a net loss of $31.4M, due to an accounting charge of $24.0M CornerstoneOnDemand filed for an IPO in September. due to the change in the fair value of its preferred stock warrant liabilities. in revenues.
Given how efficient markets are when a large market like LA starts to blossom it attracts capital pretty quickly. billion in venture capital to LA’s technology startups and 2014 will shatter that figure. Both are massively funding other LA tech companies through what Fred Wilson once defined as “recycled capital.”
I had the honor of moderating a panel of three SaaS CEOs who have collectively raised nearly $40 million of venture capital and are on their way to breakout success: Reed Shaffner of Workpop , Jerry Jao of Retention Science and Ara Mahdessian from ServiceTitan. Sure You Track Satisfaction, But Whose Success Are You Monitoring?
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