Thursday, November 14, 2013
Cornerstone OnDemand Opens Up Incubator, Investment Fund
Santa Monica-based Cornerstone OnDemand, the developer of talent management and human resources management software, is boosting its efforts to support the Los Angeles technology ecosystem, through the launch of its own incubator and investment fund. According to the company, it has launched the Cornerstone Innovation Fund, which will invest $250,000 to $1M in cloud-based startups, and will also offer up young companies space within its Santa Monica headquarters. Cornerstone OnDemand said it plans on making "a few" strategic investments each year from its new fund, and that the fund will specifically aim to fund cloud startups building business applications that support the company's continued expansion. The announcement came as Cornerstone OnDemand has ramped up its local efforts to boost the technology industry, with its LA Tech Summit event, being held today in Santa Monica.