Cornerstone OnDemand

Cornerstone OnDemand
Public
Traded as NASDAQ: CSOD
Russell 2000 Component
Industry Software Development
Founded Santa Monica (1999)
Founders
  • Adam Miller (CEO)
  • Perry Wallack
  • Steven Seymour
Headquarters Santa Monica, California, United States
Area served
 Worldwide
Key people
  • Jeff Lautenbach (President, Global Field Operations)
  • Brian Swartz (CFO)
  • Adrianna Burrows (CMO)
  • Mark Goldin (CTO)
Revenue Increase$481.9 million (2017)[1]
Total assets Increase$967.2 million (2017)[1]
Number of employees
 1,891 (2017)[1]
Website cornerstoneondemand.com

Cornerstone OnDemand Inc. is a cloud-based learning and talent management solutions 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, Perry Wallack and Steven Seymour founded Cornerstone OnDemand as CyberU.[3] Miller serves at 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 3,000 clients worldwide including Hitachi, Princess Cruise lines, Ohio State University and Fruit of the Loom.[11][14] It has more than 31 million users in 191 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]

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]

See also

References

  1. 1 2 3 4 "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. 1 2 3 4 "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. 1 2 "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. 1 2 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. 1 2 "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.
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