EVOLV: Last week, Cornerstone OnDemand, a publicly held company that supports talent and professional development management software, announced plans to acquire San Francisco-based Evolv Inc. for $42.5 million. Evolv creates a machine learning and data platform. Cornerstone OnDemand hopes to leverage Evolv's predictive analytic tools to make data driven recommendations to users around the resources they should be using.
With the acquisition of Evolv, Cornerstone OnDemand joins the ranks of other PD platforms, such as Declara, who hope to leverage the potential of predictive analytics to make professional development more effective. Cornerstone OnDemand currently has 15 million users and 1,800 customers across the world. Founded in 2007, Evolv has raised almost almost exactly $42.5 million through VC funding from firms such as Khosla Ventures, GGV Capital, Lightspeed Venture Partners and VantagePoint Venture Partners.