Cornerstone OnDemand

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Cornerstone OnDemand, Inc.
TypePublic
NASDAQ: CSOD
ISINUS21925Y1038
IndustrySoftware
FoundedSanta Monica (1999)
Founders
Headquarters
Santa Monica, California
,
United States
Area served
Worldwide
Key people
  • Himanshu Palsule (CEO)
  • Chirag Shah (CFO)
  • Mark Goldin (CTO)
  • Heidi Spirgi (CSMO)
  • Kimberly Cassady (Chief Talent Officer)
  • Adam Weiss (Chief Legal Officer)
  • Adam Miller (Co-Chair, Board of Directors)
  • Elisa Steele (Co-Chair, Board of Directors)
RevenueIncrease$576.5 million [1]
Number of employees
Approx. 3,000 [2]
Websitecornerstoneondemand.com

Cornerstone OnDemand, Inc. is a cloud-based people development software provider and learning technology company[3][4] founded November 8 1999 by Adam Miller, Perry Wallack and Steven Seymour [5]. The company is publicly traded on the NASDAQ stock exchange under the ticker symbol CSOD from 2011. Cornerstone started as CyberU, which provided online corporate training and education for adults, but eventually shifted focus to human resources software.[6]

Worldwide corporate headquarters is in Santa Monica, California, but company has offices in many US states as well as many countries in Europe, Africa, Asia and Latin America.

History[edit]

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, California.[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 got a $300 million investment from Linkedin and Silver Lake.[12]

In August 2021, Cornerstone OnDemand Inc. was acquired by a 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]

Phil Saunders was CEO until he is changed in January 2022 by Himanshu Palsule.[13]

Acquisitions[edit]

Date Company Type Price
2012 Sonar6 cloud-based talent management software for small business $14 million USD[14]
2014 Evolv data analysis software provider $42.5 million USD.[14][15][16]
2018 Workpop a developer of software to help match employers and job candidates[17]
2018 Grovo Learning Inc employee learning platform $24 million USD[18]
2020 Clustree a French job skills platform $18.5 Million USD[19]
2020 Saba management development company $1.4 billion USD.[11]

Software[edit]

This HCM software helps organizations to recruit, train, and manage their people. These software solutions are currently in use by over 42+ million people in 192 countries, and in 43 languages.[20] Company is led by Phil Saunders as Chief Executive Officer, who joined Cornerstone as the CEO in June 2020.[21]

Cornerstone OnDemand is best known as a leading global TM suite and learning management system (LMS) vendor. Its inclusion as an HCM suite provider is the result of its expanding core HR capability. This module has primarily been marketed in Europe, and only a small portion of its current customers are headquartered in North America. Its core HR module has been growing in adoption, with more than half of Cornerstone customers using six or more HCM modules. For 2020, Cornerstone OnDemand’s HR suite will be enhanced with improved organization visualization and modelling capabilities stemming from its acquisition of Saba Software in April 2020. With Saba onboard, the organization now services approximately 7,000 customers, totaling 75 million users across 180 countries. As Cornerstone OnDemand continues to build out the suite and compete in this space, it is focused on client success and customer support, as well as growing its global partner ecosystem.[22]

Development[edit]

Using Cornerstone App Builder, clients and partners can create applications using Cornerstone APIs, drag-and-drop development tools and Cornerstone’s proprietary Shelby programming language.[23]

References[edit]

  1. "Cornerstone OnDemand, Inc. 2019 Earnings Announcement". Cornerstone OnDemand. February 24, 2020. Retrieved June 26, 2020.
  2. "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.
  3. "Cornerstone to buy talent management developer Saba". HR Executive. February 25, 2020. Retrieved June 26, 2020.
  4. "The 25 Best Workplaces in the Bay Area". Fortune. Retrieved 2021-08-15.
  5. "The founders".
  6. "A Cornerstone of the Cloud". Real Money. April 27, 2012. Retrieved June 26, 2020.
  7. Markman, Jon (2012-04-27). "A Cornerstone of the Cloud". RealMoney. Retrieved 2021-08-15.
  8. 8.0 8.1 "In $5.2B deal, Cornerstone OnDemand goes private". SearchHRSoftware. Retrieved 2021-08-15.
  9. "Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion | Los Angeles Business Journal". labusinessjournal.com. Retrieved 2021-08-15.
  10. "Cornerstone OnDemand reimagines the corporate training video experience". Los Angeles Times. 2017-06-06. Retrieved 2021-08-15.
  11. 11.0 11.1 Dignan, Larry. "Cornerstone OnDemand buys Saba for $1.4 billion". ZDNet. Retrieved 2021-08-15.
  12. 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.
  13. "Our leadership". Cornerstone OnDemand.
  14. 14.0 14.1 Savitz, Eric. "Cornerstone OnDemand Buys Sonar6 For $14 Million". Forbes. Retrieved 2021-08-15.
  15. King, Rachel. "Cornerstone OnDemand nabs machine-learning big data platform Evolv". ZDNet. Retrieved 2021-08-15.
  16. "Cornerstone OnDemand Acquires Evolv Inc. for $43 Million | Los Angeles Business Journal". labusinessjournal.com. Retrieved 2021-08-15.
  17. "Cornerstone OnDemand Acquires Hiring Platform Workpop | Los Angeles Business Journal". labusinessjournal.com. Retrieved 2021-08-15.
  18. "Cornerstone Buys Grovo Learning for $24M | Los Angeles Business Journal". labusinessjournal.com. Retrieved 2021-08-15.
  19. "French startup Clustree acquired by Cornerstone OnDemand for $18.5 million". Tech.eu. Retrieved 2021-08-15.
  20. "About the company".
  21. "Lideship team".
  22. Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises "Vendor Strengths and Cautions". Gartner. November 2020.
  23. "Cornerstone OnDemand Announces Cornerstone Edge, the First Platform-as-a-Service Solution for the Talent Management Industry". Cornerstone OnDemand. December 5, 2015.