Wednesday, September 12, 2018
Cornerstone OnDemand Buys Workpop
Santa Monica-based learning and human capital management software developer Cornerstone OnDemand has acquired fellow Santa Monica company WorkPop, as a part of its expansion into talent acquisition software, the company announced this morning. Financial details of the acquisition were not announced. Cornerstone was already an investor in Workpop, which it backed through its Cornerstone Innovation Fund in 2015. Workpop, founded by Reed Shaffner, Chris Ovitz and Jay Yu, develops recruiting software.
According to Cornerstone OnDemand, it has launched a new product called Cornerstone Frontline, a recruiting software product it says is meet the needs of companies seeking to hire local, entry-level and frontline employees, such as store managers recruiting new cashiers, supervisors seeking seasonal warehouse employees and healthcare providers looking for administrative staff. The new solution is based on Workpop's software. Workpop's founders have an unusual background for a company developing talent and HR software; the company's founders were previously at game developer Zynga. Workpop's other investors include Trinity Ventures, SV Angel, Evan Williams and Biz Stone's Obvious Ventures, Cornerstone OnDemand, Joe Lonsdale, Aaron Levie, Slow Ventures, Box Group, Ironfire Capital, Plus Capital, Lee Linden (Facebook), Jim Pallotta, Dennis Phelps (IVP) and Michael Marchetti.