Cornerstone OnDemand explained

Cornerstone OnDemand, Inc.
Isin:US21925Y1038
Area Served:Worldwide
Key People:Himanshu Palsule (CEO)
Industry:Software
Foundation:Santa Monica (1999)
Location City:Santa Monica, California
Location Country:United States
Revenue:$740.9 million [1]
Num Employees:Approx. 3,000 [2]

Cornerstone OnDemand, Inc. is a cloud-based development software provider and learning technology company.[3] [4] The company was publicly traded on the NASDAQ stock exchange under the ticker symbol NASDAQ: 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, CA.[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.

Acquisitions

!Date!Company!Type!Price
2012Sonar6cloud-based talent management software for small business$14 million USD[13]
2014Evolvdata analysis software provider$42.5 million USD.[14] [15]
2018Workpopa developer of software to help match employers and job candidates[16]
2018Grovo Learning Incemployee learning platform$24 million USD[17]
2020Clustreea French job skills platform$18.5 Million USD[18]
2020Sabamanagement development company$1.4 billion USD.
2022EdCastLearning Experience Platform, Digital Adoption Platform and Marketplace
2022SumTotalhuman resource management software company
2024TaleSpinextended reality, spatial learning company
2024SkyHiveskills intelligence platform

See also

Notes and References

  1. Web site: Cornerstone OnDemand, Inc. 2020 Earnings Announcement . Cornerstone OnDemand. February 16, 2021. June 24, 2021.
  2. Web site: What it's Like Taking Over Cornerstone at a 'Bizarro Time' - a Q&A with Saunders and Miller. Dot.LA. May 13, 2020. June 26, 2020.
  3. Web site: Cornerstone to buy talent management developer Saba. February 25, 2020. HR Executive. June 26, 2020.
  4. Web site: The 25 Best Workplaces in the Bay Area. 2021-08-15. Fortune. en.
  5. Clearlake Capital Completes Acquisition of Cornerstone OnDemand . October 19, 2021. PR Newswire.
  6. Web site: April 27, 2012. A Cornerstone of the Cloud. June 26, 2020. Real Money.
  7. Web site: Markman. Jon. 2012-04-27. A Cornerstone of the Cloud. 2021-08-15. RealMoney. en.
  8. Web site: In $5.2B deal, Cornerstone OnDemand goes private. 2021-08-15. SearchHRSoftware. en.
  9. Web site: Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion Los Angeles Business Journal. 2021-08-15. labusinessjournal.com. 9 August 2021 .
  10. Web site: 2017-06-06. Cornerstone OnDemand reimagines the corporate training video experience. 2021-08-15. Los Angeles Times. en-US.
  11. Web site: Dignan. Larry. Cornerstone OnDemand buys Saba for $1.4 billion. 2021-08-15. ZDNet. en.
  12. News: Kang. Jaewon. 2017-11-09. Silver Lake, LinkedIn Invest $300 Million in Software Provider Cornerstone OnDemand. en-US. Wall Street Journal. 2021-08-15. 0099-9660.
  13. Web site: Savitz. Eric. Cornerstone OnDemand Buys Sonar6 For $14 Million. 2021-08-15. Forbes. en.
  14. Web site: King. Rachel. Cornerstone OnDemand nabs machine-learning big data platform Evolv. 2021-08-15. ZDNet. en.
  15. Web site: Cornerstone OnDemand Acquires Evolv Inc. for $43 Million Los Angeles Business Journal. 2021-08-15. labusinessjournal.com. 7 October 2014 .
  16. Web site: Cornerstone OnDemand Acquires Hiring Platform Workpop Los Angeles Business Journal. 2021-08-15. labusinessjournal.com. 12 September 2018 .
  17. Web site: Cornerstone Buys Grovo Learning for $24M Los Angeles Business Journal. 2021-08-15. labusinessjournal.com. 8 November 2018 .
  18. Web site: French startup Clustree acquired by Cornerstone OnDemand for $18.5 million. 2021-08-15. Tech.eu. 16 January 2020 . en-GB.

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