Strategic initiative created to invest in, advise and collaborate with promising cloud startups that support Cornerstone’s market expansion
SANTA MONICA, Calif., November 14, 2013 – Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based talent management software solutions, today announced the launch of the Cornerstone Innovation Fund, a strategic initiative created to invest in, advise and collaborate with promising cloud startups building innovative business applications that support the continued expansion of Cornerstone’s market reach.
Cornerstone’s vision is to foster the development of a comprehensive ecosystem of cutting-edge solutions for organizations seeking to differentiate and continuously evolve their talent management strategies. In addition, the fund gives Cornerstone an opportunity to support the burgeoning Los Angeles technology community, as well as other technology communities throughout the world.
Through the fund, Cornerstone anticipates making a few strategic investments each year, with each individual investment ranging from $250 thousand to $1 million in size. All investments will be approved by Cornerstone’s board of directors and will be made alongside select leading venture capital firms.
Cornerstone will also allow young companies to apply for use of a dedicated creative work space within its Santa Monica, Calif. headquarters, giving them direct access to the experience and expertise of the Cornerstone OnDemand team. In addition to supporting external ventures, Cornerstone also plans to use this space to rotate small, cross-functional teams of its own employees to create new applications or feature sets built on the Cornerstone platform, as well as cultivate new company initiatives as it did with its Cornerstone for Salesforce application.
To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HR systems strategic consulting. As the premier Human Capital Management (HCM) Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 16 years in business working on over 2000 successful engagements for more than 900 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.
Matt Lafata, HRchitect