Cornerstone OnDemand

Cornerstone OnDemand, Inc.
TypePrivate
Nasdaq: CSOD
ISINUS21925Y1038
IndustrySoftware
Founded1999; 27 years ago (1999), in Santa Monica
Founders
Headquarters
Santa Monica, California
,
United States
Area served
Worldwide
Key peopleHimanshu Palsule (CEO)
RevenueIncrease$740.9 million
OwnerClearlake Capital
Number of employees
Approx. 3,000
Websitecornerstoneondemand.com

Cornerstone OnDemand, Inc. is a cloud-based human capital management software company headquartered in Santa Monica, California, providing learning management, talent management and workforce development platforms to enterprise customers. Founded in 1999 as CyberU, an online corporate training provider, the company pivoted to HR software and went public on the Nasdaq in 2011 under the ticker CSOD. In August 2021 it was acquired by private equity firm Clearlake Capital in a transaction valued at approximately $5.2 billion, taking the company private.

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. It is based in Santa Monica, CA.

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

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

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 company is now privately held.

Acquisitions

Date Company Type Price
2012 Sonar6 cloud-based talent management software for small business $14 million USD
2014 Evolv data analysis software provider $42.5 million USD.
2018 Workpop a developer of software to help match employers and job candidates
2018 Grovo Learning Inc employee learning platform $24 million USD
2020 Clustree a French job skills platform $18.5 Million USD
2020 Saba management development company $1.4 billion USD.
2022 EdCast Learning Experience Platform, Digital Adoption Platform and Marketplace
2022 SumTotal human resource management software company
2024 TaleSpin extended reality, spatial learning company
2024 SkyHive skills intelligence platform

See also

References

  1. ↑ "Cornerstone OnDemand, Inc. 2020 Earnings Announcement". Cornerstone OnDemand. February 16, 2021. Archived from the original on June 24, 2021. Retrieved June 24, 2021.
  2. ↑ "What it's Like Taking Over Cornerstone at a 'Bizarro Time' - a Q&A with Saunders and Miller". Dot.LA. May 13, 2020. Archived from the original on June 28, 2020. Retrieved June 26, 2020.
  3. 1 2 3 "In $5.2B deal, Cornerstone OnDemand goes private". SearchHRSoftware. Retrieved 2021-08-15.
  4. ↑ "Clearlake Capital Completes Acquisition of Cornerstone OnDemand" (Press release). PR Newswire. October 19, 2021. Archived from the original on October 20, 2021. Retrieved October 20, 2021.
  5. ↑ Markman, Jon (2012-04-27). "A Cornerstone of the Cloud". RealMoney. Archived from the original on 2021-11-08. Retrieved 2021-08-15.
  6. ↑ "Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion | Los Angeles Business Journal". labusinessjournal.com. 9 August 2021. Archived from the original on 2021-08-14. Retrieved 2021-08-15.
  7. ↑ "Cornerstone OnDemand reimagines the corporate training video experience". Los Angeles Times. 2017-06-06. Archived from the original on 2021-08-15. Retrieved 2021-08-15.
  8. 1 2 Dignan, Larry. "Cornerstone OnDemand buys Saba for $1.4 billion". ZDNet. Archived from the original on 2021-08-15. Retrieved 2021-08-15.
  9. ↑ Kang, Jaewon (2017-11-09). "Silver Lake, LinkedIn Invest $300 Million in Software Provider Cornerstone OnDemand". Wall Street Journal. ISSN 0099-9660. Archived from the original on 2023-04-04. Retrieved 2021-08-15.
  10. 1 2 Savitz, Eric. "Cornerstone OnDemand Buys Sonar6 For $14 Million". Forbes. Archived from the original on 2021-08-15. Retrieved 2021-08-15.
  11. ↑ King, Rachel. "Cornerstone OnDemand nabs machine-learning big data platform Evolv". ZDNet. Archived from the original on 2021-08-15. Retrieved 2021-08-15.
  12. ↑ "Cornerstone OnDemand Acquires Evolv Inc. for $43 Million | Los Angeles Business Journal". labusinessjournal.com. 7 October 2014. Archived from the original on 2021-08-15. Retrieved 2021-08-15.
  13. ↑ "Cornerstone OnDemand Acquires Hiring Platform Workpop | Los Angeles Business Journal". labusinessjournal.com. 12 September 2018. Retrieved 2021-08-15.
  14. ↑ "Cornerstone Buys Grovo Learning for $24M | Los Angeles Business Journal". labusinessjournal.com. 8 November 2018. Archived from the original on 2021-08-15. Retrieved 2021-08-15.
  15. ↑ "French startup Clustree acquired by Cornerstone OnDemand for $18.5 million". Tech.eu. 16 January 2020. Retrieved 2021-08-15.
  16. ↑ "Cornerstone to buy talent management developer Saba". HR Executive. February 25, 2020. Archived from the original on June 28, 2020. Retrieved June 26, 2020.