Tuesday, October 7, 2014

Evolv Acquired By Cornerstone OnDemand

San Francisco-based Evolv, which develops software-as-a-service aimed at the human resources and employee management market, has been acquired by Cornerstone OnDemand. Cornerstone said it would pay approximately $42.5M in cash, assume $2.0M in debt, and grant Evolv employees 200,000 shares of Cornerstone common stock. Evolv was venture backed by VantagePoint, GGV Capital, Khosla Ventures and Lightspeed Venture Partners. Cornsrtone OnDemand said it will use Evolv to help accelerate its big data strategy.