Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced a $250m expansion of its Workday Ventures fund.
This additional investment expands on Workday Ventures’ existing portfolio of 43 technology companies since the initial $250 million fund was announced in 2018.
The expansion of the fund will further reinforce the arm’s strategic focus on:
- AI and ML. Workday Ventures is focused on investing in global enterprise software companies that offer AI and ML technologies, empowering agile and insights-driven decision-making for finance and human resources (HR) teams. For example, Workday Ventures has invested in companies that offer conversational AI, such as Paradox, which provides a conversational recruiting platform to automate the talent acquisition process.
- Intelligent Automation. Workday Ventures will continue to invest in the intelligent automation of financial and HR business processes, and empower intelligent resource management for greater efficiency and talent optimization. For example, Workday Ventures has invested in Auditoria, which provides an AI-based platform to automate and increase the speed, accuracy, and productivity of accounts payable and receivable teams.
- Serving Targeted Markets. Workday Ventures is expanding investments into key industries, adjacent markets, and solutions to deliver even more value to customers. For example, Workday Ventures has invested in companies that serve the retail industry, such as Prevedere, which offers econometric forecasting powered by global data and AI, giving retailers a real-time view of future shopper demand and drivers.
FinSMEs
07/02/2023