Company:Cornerstone OnDemand

From HandWiki
Short description: American technology company
Cornerstone OnDemand, Inc.
ISINUS21925Y1038
IndustrySoftware
FoundedSanta Monica (1999)
Founders
  • Adam Miller
  • Perry Wallack
  • Steven Seymour
Headquarters
Santa Monica, California
,
United States
Area served
Worldwide
Key people
Himanshu Palsule (CEO)
RevenueIncrease$740.9 million [1]
Number of employees
Approx. 3,000 [2]
Websitecornerstoneondemand.com

Cornerstone OnDemand, Inc. is a cloud-based people development software provider and learning technology company.[3][4] The company was publicly traded on the NASDAQ stock exchange under the ticker symbol NASDAQ: CSOD until it was acquired by private-equity firm Clearlake Capital in 2021.[5] Cornerstone started as CyberU, which provided online corporate training and education for adults, but eventually shifted focus to human resources software.[6]

History

Cornerstone OnDemand, Inc. was founded by Adam Miller, Perry Wallack and Steven Seymour in 1999 under the name CyberU and as a learning technology company.[7] It is based in Santa Monica, California .[8]

The company went public in 2011 on NASDAQ and trades under the symbol CSOD.[9] As of 2017, more than 3000 companies were using the companies software.[10] With the purchase of Saba in 2020, the company expanded to 7000 users.[11]

In 2017, the company received a $300 million investment from Linkedin and Silver Lake.[12]

In August 2021, Cornerstone OnDemand Inc. was acquired by private equity firm Clearlake Capital Group in a deal estimated to be worth $5.2 billion. The new owner will be taking the company private.[8]

Acquisitions

Date Company Type Price
2012 Sonar6 cloud-based talent management software for small business $14 million USD[13]
2014 Evolv data analysis software provider $42.5 million USD.[13][14][15]
2018 Workpop a developer of software to help match employers and job candidates[16]
2018 Grovo Learning Inc employee learning platform $24 million USD[17]
2020 Clustree a French job skills platform $18.5 Million USD[18]
2020 Saba management development company $1.4 billion USD.[3][11]
2022 EdCast Learning Experience Platform, Digital Adoption Platform and Marketplace
2022 SumTotal human resource management software company

See also

  • List of talent management system companies

References

  1. ↑ "Cornerstone OnDemand, Inc. 2020 Earnings Announcement". Cornerstone OnDemand. February 16, 2021. https://investors.cornerstoneondemand.com/investors/news-and-events/news/news-details/2021/Cornerstone-OnDemand-Announces-Fourth-Quarter-and-Fiscal-Year-2020-Financial-Results/default.aspx. 
  2. ↑ "What it's Like Taking Over Cornerstone at a 'Bizarro Time' - a Q&A with Saunders and Miller". Dot.LA. May 13, 2020. https://dot.la/cornerstone-ondemand-inc-ceo-2645983750.html. 
  3. ↑ 3.0 3.1 "Cornerstone to buy talent management developer Saba". HR Executive. February 25, 2020. https://hrexecutive.com/cornerstone-to-buy-talent-management-developer-saba/. 
  4. ↑ "The 25 Best Workplaces in the Bay Area" (in en). https://fortune.com/2017/04/26/best-companies-bay-area-large/. 
  5. ↑ "Clearlake Capital Completes Acquisition of Cornerstone OnDemand" (Press release). PR Newswire. October 19, 2021.
  6. ↑ "A Cornerstone of the Cloud". Real Money. April 27, 2012. https://realmoney.thestreet.com/articles/04/27/2012/cornerstone-cloud. 
  7. ↑ Markman, Jon (2012-04-27). "A Cornerstone of the Cloud" (in en). https://realmoney.thestreet.com/articles/04/27/2012/cornerstone-cloud. 
  8. ↑ 8.0 8.1 "In $5.2B deal, Cornerstone OnDemand goes private" (in en). https://searchhrsoftware.techtarget.com/news/252505165/In-52B-deal-Cornerstone-OnDemand-goes-private. 
  9. ↑ "Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion | Los Angeles Business Journal". https://labusinessjournal.com/news/2021/aug/09/clearlake-capital-buy-cornerstone-ondemand-5b/. 
  10. ↑ "Cornerstone OnDemand reimagines the corporate training video experience" (in en-US). 2017-06-06. https://www.latimes.com/business/technology/la-fi-tn-cornerstone-learning-la-tech-20170606-htmlstory.html. 
  11. ↑ 11.0 11.1 Dignan, Larry. "Cornerstone OnDemand buys Saba for $1.4 billion" (in en). https://www.zdnet.com/article/cornerstone-ondemand-buys-saba-for-1-4-billion/. 
  12. ↑ Kang, Jaewon (2017-11-09). "Silver Lake, LinkedIn Invest $300 Million in Software Provider Cornerstone OnDemand" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/silver-lake-linkedin-invest-300-million-in-software-provider-cornerstone-ondemand-1510193210. 
  13. ↑ 13.0 13.1 Savitz, Eric. "Cornerstone OnDemand Buys Sonar6 For $14 Million" (in en). https://www.forbes.com/sites/ericsavitz/2012/03/08/cornerstone-ondemand-buys-sonar6-for-14-million/. 
  14. ↑ King, Rachel. "Cornerstone OnDemand nabs machine-learning big data platform Evolv" (in en). https://www.zdnet.com/article/cornerstone-ondemand-nabs-machine-learning-big-data-platform-evolv/. 
  15. ↑ "Cornerstone OnDemand Acquires Evolv Inc. for $43 Million | Los Angeles Business Journal". https://labusinessjournal.com/news/2014/oct/07/cornerstone-ondemand-acquires-evolv-inc-43-million/. 
  16. ↑ "Cornerstone OnDemand Acquires Hiring Platform Workpop | Los Angeles Business Journal". https://labusinessjournal.com/news/2018/sep/12/cornerstone-ondemand-acquires-hiring-platform-work/. 
  17. ↑ "Cornerstone Buys Grovo Learning for $24M | Los Angeles Business Journal". https://labusinessjournal.com/news/2018/nov/08/cornerstone-buys-grovo-learning-24m/. 
  18. ↑ "French startup Clustree acquired by Cornerstone OnDemand for $18.5 million" (in en-GB). https://tech.eu/brief/french-startup-clustree-acquired-by-cornerstone-ondemand-for-18-5-million/. 

External links



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