Cornerstone OnDemand, Inc. is a cloud-based people development software provider and learning technology company.
The company was publicly traded on the
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
stock exchange under the ticker symbol until it was acquired by
private-equity firm
A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including lev ...
Clearlake Capital Group in 2021. Cornerstone started as CyberU, which provided online corporate training and education for adults, but eventually shifted focus to human resources software.
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
Santa Monica (; Spanish: ''Santa Mónica'') is a city in Los Angeles County, situated along Santa Monica Bay on California's South Coast. Santa Monica's 2020 U.S. Census population was 93,076. Santa Monica is a popular resort town, owing to ...
,
CA.
The company went public in 2011 on
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...
and trades under the symbol CSOD. As of 2017, more than 3000 companies were using the companies software. With the purchase of Saba in 2020, the company expanded to 7000 users.
In 2017, the company got a $300 million investment from
Linkedin
LinkedIn () is an American business and employment-oriented online service that operates via websites and mobile apps. Launched on May 5, 2003, the platform is primarily used for professional networking and career development, and allows job s ...
and
Silver Lake
Silver is a chemical element with the symbol Ag (from the Latin ', derived from the Proto-Indo-European ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical ...
.
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.
Acquisitions
See also
*
List of talent management system companies
The following is a list of notable companies associated with talent management systems (TMS).
TMS companies
Other companies that produce TMS
References
{{DEFAULTSORT:Talent Management System Companies, List Of
Human resource manageme ...
References
External links
*
Software companies based in California
Software companies of the United States
Companies based in Santa Monica, California
1999 establishments in California
Companies formerly listed on the Nasdaq
2011 initial public offerings
Software companies established in 1999
American companies established in 1999
2021 mergers and acquisitions
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