Cornerstone OnDemand


Cornerstone OnDemand, Inc. is a cloud-based people development software provider headquartered in Santa Monica, California. The company is publicly traded on the NASDAQ stock exchange under the ticker symbol CSOD. Cornerstone has approximately 7,000 clients worldwide including Canon, Fossil, Henkel, Hyatt, RSM, Walgreens and Wendy's. It has more than 70 million users in 180 countries and products in over 40 languages.

History

Adam Miller, Perry Wallack and Steven Seymour founded Cornerstone OnDemand as CyberU in 1999. Headquartered in Santa Monica, Calif., Cornerstone started as CyberU, which provided online corporate training and education for adults, but as its clients began to ask for more ways to help automate their human resource functions, the company pivoted and morphed into what it is today. 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.
In March 2011, Cornerstone OnDemand raised $136.5 million in its initial public offering.
In March 2012, Cornerstone acquired Sonar6, a cloud-based talent management software for small business, for $14 million.
In October 2014, Cornerstone acquired Evolv, a data analysis software provider, for $42.5 million.
In 2016, the company's annual revenue was $423.1 million.
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.
In November 2017, the company raised a $300 million investment from LinkedIn and Silver Lake Partners to fund a share buyback program and growth. As a result of the investment, the company expanded its board of directors to 10 members.
In September 2018, Cornerstone acquired to enhance its recruiting offering, and acquired in November 2018 to help build out its content subscription offering, Content Anytime.
In February 2020 Cornerstone made its largest acquisition yet by acquiring Saba for $1.4Bn.
In June 2020, former SABA CEO Phil Saunders replaced Adam Miller as CEO of Cornerstone OnDemand.

Cornerstone Innovation Fund

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