Tuesday, October 7, 2014
Cornerstone OnDemand Buys Evolv
Santa Monica-based Cornerstone OnDemand said Tuesday afternoon that it has agreed to acquire Evolv, a machine learning and data science company based in San Francisco. Cornerstone will pay approximately $42.5M in cash, plus assume up to 2.0M in debt and issue Evolv's employees up to 200,000 shares of its common stock. According to Cornerstone OnDemand, it will use the buy to bolster its big data analytics and machine learning efforts. Evolv was venture backed by VantagePoint, GGV Capital, Khosla Ventures and Lightspeed Venture Partners, and developed software-as-a-service aimed at the human resources and employee management market, which helps employers better match job applicants to positions.