Santa Monica, Calif.-based Cornerstone OnDemand (NASDAQ: CSOD), a global pprovider of cloud-based talent management software solutions, launched a new investment initiative.
The Cornerstone Innovation Fund will invest in, advise and collaborate with promising cloud startups building innovative business applications that support the continued expansion of Cornerstone.
Through the fund, Cornerstone will make a few strategic investments each year, with each operation, ranging from $250k to $1m, which will be made alongside select venture capital firms.
Young companies can also apply for use of a dedicated creative work space within Cornerstone’s Santa Monica headquarters.
In addition to supporting external ventures, the company also plans to use the space to rotate small, cross-functional teams of its own employees to create new applications or feature sets built on its platform, as well as nurture new initiatives
Interested startups can visit the site at http://www.csod.com/about-us/innovationfund for more information.