Los Angeles-based cloud-based talent management software solutions firm with over 13 million users, Cornerstone OnDemand has launched Cornerstone Innovation Fund, to invest in disruptive LA-based cloud startups building cutting-edge solutions for organizations.
Cornerstone Innovation Fund will give startups between $250,000 to $1 million after approval by Cornerstone’s board of directors alongside select leading venture capital firms.
Speaking about the move, Adam Miller, founder and CEO 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,” added Miller.
Apart from funding, Cornerstone will give startups a dedicated creative work at its Santa Monica HQ’s space, allow them to have direct access to its resident entreprenuer mentors or simply allow them to build their apps on the Cornerstone API.
Applications to the fund are now open and available online here.