Cornerstone OnDemand

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Cornerstone OnDemand, Inc.
Company typePublic
Nasdaq: CSOD
Russell 2000 Component
ISINUS21925Y1038
IndustrySoftware
FoundedSanta Monica (1999)
Founders
Headquarters
Santa Monica, California
,
United States
Area served
Worldwide
Key people
RevenueIncrease$537.9 million [1]
Number of employees
Over 2,000 [1]
Websitecornerstoneondemand.com

Cornerstone OnDemand, Inc. is a cloud-based learning, talent management and talent experience software provider headquartered in Santa Monica, California.[2][3] The company is publicly traded on the NASDAQ stock exchange under the ticker symbol CSOD.[3] In 1999, Adam Miller founded Cornerstone OnDemand, which was first called CyberU,[3] and Miller still serves as the CEO of the company.[4][5]

History

Adam Miller, Perry Wallack and Steven Seymour founded Cornerstone OnDemand as CyberU in 1999.[3] The company was founded in Santa Monica, California.[6] Cornerstone OnDemand raised $32 million in its first venture capital round in September 2007. The funding round was led by Bessemer Venture Partners and Bay Partners.[7]

In March 2011, Cornerstone OnDemand raised $136.5 million in its initial public offering.[8][9] The company acquired Sonar6, a cloud-based talent management software for small business, for $14 million in March 2012.[10]

Cornerstone OnDemand acquired Evolv, a data analysis software provider, for $42.5 million in October 2014.[11][12][13] In 2016, the company's annual revenue was $423.1 million.[1] Cornerstone OnDemand has over 3,600 clients worldwide including Hitachi, Princess Cruise lines, Ohio State University and Fruit of the Loom.[11][14] It has more than 40 million users in 190 countries and products in over 40 languages.[15][14] In 2017, the company was named to Fortune magazine's 50 Best Workplaces For Giving Back list. That same year, the company was named to Fortune's 25 Best Workplaces in the Bay Area.[16]

In November 2017, the company raised a $300 million investment from LinkedIn and Silver Lake Partners to fund a share buyback program and growth.[17] As a result of the investment, the company expanded its board of directors to 10 members.[18]

In September 2018, Cornerstone acquired Workpop to enhance its recruiting offering, and acquired Grovo in November 2018 to help build out its content subscription offering, Content Anytime.

The Cornerstone Innovation Fund invests and collaborates with cloud-based startups in the talent management space.[19] In August 2015, it invested in One Month, Rallyteam, Strive, and Workpop.[19][20].

In February 2020 Cornerstone made its largest acquisition yet by acquiring Saba for $1.4Bn[21][22]. In June 2020, former SABA CEO Phil Saunders replaced Adam Miller as CEO of Cornerstone OnDemand[23].

See also

References

  1. ^ a b c "Cornerstone OnDemand, Inc. 10-K" (PDF). Cornerstone OnDemand. Retrieved March 18, 2018.
  2. ^ "Cornerstone Remains Best-Kept Secret In Tech Sector Despite Its Strong Performance". Forbes. June 20, 2012. Retrieved October 26, 2015.
  3. ^ a b c d "A Cornerstone of the Cloud". TheStreet. April 27, 2012. Retrieved October 26, 2015.
  4. ^ "The Startup Turning Point: When You Need to Ask for Help". Entrepreneur. November 12, 2013. Retrieved October 26, 2015.
  5. ^ "Before Starting A Business, Adam Miller Hit The Road". Investor's Business Daily. May 25, 2012. Retrieved October 26, 2015.
  6. ^ "Cornerstone OnDemand pursues customers in the cloud". Los Angeles Times. May 25, 2014. Retrieved October 26, 2015.
  7. ^ "Interview with Adam Miller, Cornerstone OnDemand". socaltech. September 17, 2007. Retrieved October 26, 2015.
  8. ^ "Cornerstone OnDemand raises $136.5 mln in IPO". Reuters. March 16, 2011. Retrieved October 26, 2015.
  9. ^ "At Silicon Valley Bank, risky tech start-ups are lucrative business". Los Angeles Times. August 8, 2015. Retrieved October 26, 2015.
  10. ^ "Cornerstone OnDemand Buys Sonar6 For $14 Million". Forbes. March 8, 2012. Retrieved October 26, 2015.
  11. ^ a b "Cornerstone OnDemand thinks big data can tell you who to hire". Fortune. May 12, 2015. Retrieved October 26, 2015.
  12. ^ "Cornerstone OnDemand nabs machine-learning big data platform Evolv". ZDNet. October 7, 2014. Retrieved October 26, 2015.
  13. ^ "Cornerstone OnDemand Acquires Evolv Inc. for $43 Million". Los Angeles Business Journal. October 7, 2014. Retrieved October 26, 2015.
  14. ^ a b Dave, Paresh (June 6, 2017). "Cornerstone OnDemand Reimagines the Corporate Training Video Experience". The Los Angeles Times. Retrieved August 3, 2017.
  15. ^ "Cornerstone OnDemand To Present At Deutsche Bank Technology Conference". The Street. September 8, 2015. Retrieved October 26, 2015.
  16. ^ "The 25 Best Workplaces in the Bay Area". Fortune. April 26, 2017. Retrieved August 3, 2017.
  17. ^ Dignan, Larry (November 8, 2017). "Cornerstone OnDemand Nets $300 Million Investment From Silver Lake, LinkedIn; Reports Strong Q3". ZD Net. Retrieved March 18, 2018.
  18. ^ Kang, Jaewon (November 8, 2017). "Silver Lake, LinkedIn Invest $300 Million in Software Provider Cornerstone OnDemand". The Wall Street Journal. Retrieved March 18, 2018.
  19. ^ a b "CORNERSTONE ONDEMAND Announces Innovation Fund, First Investments". LA Tech Digest. August 27, 2015. Retrieved October 23, 2015.
  20. ^ "Cornerstone OnDemand Invests In Four Companies". socaltech. August 27, 2015. Retrieved October 26, 2015.
  21. ^ Cherney, Max A. "Cornerstone to acquire Saba for $1.4 billion, reports earnings". MarketWatch. Retrieved 2020-04-07.
  22. ^ "Cornerstone OnDemand buys Saba for $1.4 billion". ZDnet. February 24, 2020. Retrieved February 25, 2020.
  23. ^ "Phil Saunders - Chief Executive Officer". Cornerstone OnDemand. Retrieved June 22, 2020.

External links

  • Official website
  • Business data for Cornerstone OnDemand:
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