Cornerstone OnDemand, a US-based provider of talent management software, has launched a corporate venturing fund – the Cornerstone Innovation Fund 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 anticipates making a few strategic investments each year, with each individual investment ranging from $250,000 to $1m in size. All investments will be made alongside venture capital firms. Cornerstone will also allow startups to apply for use of a dedicated work space within its California-located headquarters.
Adam Miller, founder and chief executive officer of Cornerstone OnDemand, said: “The Cornerstone Innovation Fund is an important strategic initiative to help further our leadership position in the talent management software space. Our approach with the fund is to foster the development of great ideas and companies, even at the earliest of stages. The fund is also a way to keep our entrepreneurial spirit alive and well at Cornerstone, even as we continue to grow and expand our business globally.”