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: 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]
 | |
| Company type | Private |
|---|---|
| Nasdaq: CSOD | |
| ISIN | US21925Y1038 |
| Industry | Software |
| Founded | 1999, in Santa Monica |
| Founders |
|
| Headquarters | , United States |
Area served | Worldwide |
Key people | Himanshu Palsule (CEO) |
| Revenue |  $740.9 million [1] |
| Owner | Clearlake Capital |
Number of employees | Approx. 3,000 [2] |
| Website | cornerstoneondemand |
History
editCornerstone 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.[8]
Acquisitions
edit| 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 | |
| 2024 | TaleSpin | extended reality, spatial learning company | |
| 2024 | SkyHive | skills intelligence platform |
See also
editReferences
edit- ^ "Cornerstone OnDemand, Inc. 2020 Earnings Announcement". Cornerstone OnDemand. February 16, 2021. Retrieved June 24, 2021.
- ^ "What it's Like Taking Over Cornerstone at a 'Bizarro Time' - a Q&A with Saunders and Miller". Dot.LA. May 13, 2020. Retrieved June 26, 2020.
- ^ a b "Cornerstone to buy talent management developer Saba". HR Executive. February 25, 2020. Retrieved June 26, 2020.
- ^ "The 25 Best Workplaces in the Bay Area". Fortune. Retrieved 2021-08-15.
- ^ "Clearlake Capital Completes Acquisition of Cornerstone OnDemand" (Press release). PR Newswire. October 19, 2021.
- ^ "A Cornerstone of the Cloud". Real Money. April 27, 2012. Retrieved June 26, 2020.
- ^ Markman, Jon (2012-04-27). "A Cornerstone of the Cloud". RealMoney. Retrieved 2021-08-15.
- ^ a b "In $5.2B deal, Cornerstone OnDemand goes private". SearchHRSoftware. Retrieved 2021-08-15.
- ^ "Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion | Los Angeles Business Journal". labusinessjournal.com. 9 August 2021. Retrieved 2021-08-15.
- ^ "Cornerstone OnDemand reimagines the corporate training video experience". Los Angeles Times. 2017-06-06. Retrieved 2021-08-15.
- ^ a b Dignan, Larry. "Cornerstone OnDemand buys Saba for $1.4 billion". ZDNet. Retrieved 2021-08-15.
- ^ Kang, Jaewon (2017-11-09). "Silver Lake, LinkedIn Invest $300 Million in Software Provider Cornerstone OnDemand". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-08-15.
- ^ a b Savitz, Eric. "Cornerstone OnDemand Buys Sonar6 For $14 Million". Forbes. Retrieved 2021-08-15.
- ^ King, Rachel. "Cornerstone OnDemand nabs machine-learning big data platform Evolv". ZDNet. Retrieved 2021-08-15.
- ^ "Cornerstone OnDemand Acquires Evolv Inc. for $43 Million | Los Angeles Business Journal". labusinessjournal.com. 7 October 2014. Retrieved 2021-08-15.
- ^ "Cornerstone OnDemand Acquires Hiring Platform Workpop | Los Angeles Business Journal". labusinessjournal.com. 12 September 2018. Retrieved 2021-08-15.
- ^ "Cornerstone Buys Grovo Learning for $24M | Los Angeles Business Journal". labusinessjournal.com. 8 November 2018. Retrieved 2021-08-15.
- ^ "French startup Clustree acquired by Cornerstone OnDemand for $18.5 million". Tech.eu. 16 January 2020. Retrieved 2021-08-15.
External links
edit- Official website
- Business data for Cornerstone OnDemand:
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