Debbie McGrath

Cornerstone OnDemand Inc., a Santa Monica, Calif.-based provider of talent management software and services, has raised around $9 million in Series E funding, according to a regulatory filing. Backers include Meritech Capital, Bay Partners and Bessemer Venture Partners. The company had previously raised over $32 million. www.cornerstoneondemand.com

Raising a Series E round in these market conditions tells you a lot about the firm. They must be showing substantial traction in the marketplace as well as growing significantly. The negative news is this round probably came at a bad time for market evaluations and will cut substantially into employees equity. Will Adam Miller become another 6% equity player?