– FRANCE, Paris / USA, CA – Clustree, a French technology company that developed an industry-leading, AI-powered skills engine and extensive skills ontology that is being used by leading global brands today announced its acquisition by Cornerstone OnDemand, Inc. (NASDAQ: CSOD), a global leader in people development solutions, based in Santa Monica, CA for approximately $18.5 million in an all-cash deal.
The transaction is subject to the satisfaction of certain customary closing conditions and is expected to close in the first quarter of 2020.
Founded in 2014, Clustree developed one of the world’s most sophisticated skills engines using machine learning and bias-free algorithms to help organizations match their employees’ skills with specific job roles. Clustree developed its skills ontology based on the consolidation of over 1 billion job skills across multiple languages into a library of 53,000 verified skills that accurately describe any employee profile from any industry.
Organizations rely on Clustree’s AI-driven skills engine and skills ontology to analyze their employee skill data to inform critical decisions regarding whom to hire, how to develop their employees, how to structure long-term workforce planning, and ultimately, how to close the pervasive skills gap that companies are experiencing worldwide.
“The future of work will require organizations and their people to continuously learn new skills to keep up with the pace of technology and fundamental industry shifts,” said Adam Miller, founder and CEO, Cornerstone. “In order to prepare for the future, organizations must have a grasp on the skills and capabilities their talent has today so they can identify skills gaps and start developing their talent for tomorrow.”
Over the next year, Cornerstone plans to integrate the Clustree skills engine and skills ontology into its portfolio of products that make up Cornerstone’s holistic People Development solution. The integration will enable Cornerstone clients and their people to:
- Build a skills inventory. Organizations will have a clear insight into their employees’ current skills and capabilities, enabling them to better match employees to specific roles and build more productive teams. Additionally, employees will have a better understanding of the specific skills and capabilities they have, as well as the specialized skills required for their job position.
- Identify precise areas for growth and development. Based on employees’ current job positions and projected career paths, organizations and their people will be able to identify potential skills gaps and access personalized development opportunities within the flow of work, including relevant, modern learning content through Content Anytime.
- Make more informed recruiting decisions. Organizations will be able to detect “hidden” skills in candidates’ resumes based on their previous job roles, credentials and accomplishments, enabling HR teams to better match candidates with open requisitions.
“We’ve dedicated the past five years to making skills the currency of work and helping organizations prepare for the future thanks to a very strong AI technology and product,” said Bénédicte de Raphélis Soissan, founder and CEO, Clustree. “By joining Cornerstone, we can now expand our footprint even larger and integrate our value proposition into a leading people development solution that is used by thousands of organizations around the world.”
Cornerstone is the world’s leading people development company. We believe people can achieve anything when they have the right development and growth opportunities. We offer organizations the technology, content, expertise and specialized focus to help them realize their people potential. Featuring comprehensive recruiting, personalized learning, modern content delivered in the flow of work, development-driven performance management and holistic workforce data management and insights, Cornerstone’s people development solutions are successfully used by more than 3,640 global clients of all sizes, spanning more than 40 million users across 187 countries and 43 languages.
For more information: https://www.cornerstoneondemand.com
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