Expands Management Team with Focus on Long Term Growth
PLEASANTON, CALIF. – April 29, 2009 – Workday, Inc., the leader in enterprise-class SaaS-based Human Resources (HR) and Financial solutions, today announced it has secured $75 million in Series E funding and has expanded the management team with the appointment of Clark Newby as vice president of marketing.
Workday secured $75 million in Series E funding led by New Enterprise Associates (NEA). Existing investors Greylock Partners and Workday CEO and co-founder Dave Duffield also participated in the round.
Workday also named Clark Newby vice president of marketing, leading the company’s branding, marketing and corporate communications efforts worldwide.
"Workday has established a strong leadership position in SaaS-based HR and Financials for the enterprise through rapid product development, technical excellence and an unwavering commitment to our customers," said Dave Duffield, CEO and chief customer advocate of Workday. "Both Aneel and I are extremely proud of these accomplishments and of the entire Workday team. This investment reflects both those achievements and the tremendous market opportunity in front of us. We are pleased to welcome Scott Sandell to our board, as he brings with him outstanding experience growing companies such as Data Domain and WebEx into industry leadership positions. We are also excited to welcome Clark to the Workday management team. His experience and track record in rapidly growing companies extends the depth of our organization as we plan for growth in 2009 and the years ahead."
"Workday has established a new category in SaaS solutions for the enterprise, and the company’s impressive customer base demonstrates the fast pace of this industry shift to on-demand for core applications such as HR and Financials," said Scott Sandell, general partner at NEA. "This type of technology transition only comes around every 10-15 years, and NEA is pleased to support Workday’s expanding leadership with this investment. I'm personally looking forward to supporting Dave Duffield and Aneel Bhusri, two of the most capable and experienced leaders in enterprise software."
"Workday has quickly established itself as the leader in SaaS-based business applications, based on a phenomenal track record of rapid product and technology innovation coupled closely with a commitment and a passion for customer success," said Newby. "It is a privilege to join the Workday team as we are poised to drive this major technology shift to SaaS for core systems within the enterprise."
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same core principles: supporting its entrepreneurs, providing an excellent return to its limited partners, and practicing its profession with the highest standards and respect. Through its affiliated funds, NEA focuses on investments at all stages of a company's development, from seed stage through IPO. With approximately $8.5 billion in committed capital, NEA's experienced management team has invested in over 550 companies, of which more than 160 have gone public and more than 240 have been acquired. NEA has U.S. offices in Chevy Chase, Maryland; Menlo Park, California; and Baltimore, Maryland. In addition, New Enterprise Associates (India) Pvt. Ltd. has an office in Bangalore, India and New Enterprise Associates (Beijing) Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.
Workday is the leader in SaaS-based enterprise solutions for global human resources and financial management, providing new levels of business agility for a fraction of the cost of buying, deploying and maintaining legacy on-premise systems. More than 100 customers, spanning mid-sized organizations to global Fortune 500 businesses, have selected Workday. Workday Human Capital Management and Workday Financial Management use modern, standards-based technologies to provide an unparalleled level of agility, ease-of-use, and integration capability. For more information about Workday, please visit www.workday.com.
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Workday is a leading provider of enterprise cloud applications for human resources and finance. Founded in 2005 by PeopleSoft veterans Dave Duffield and Aneel Bhusri, Workday delivers human capital management, financial management, and analytics applications designed for the world’s largest organizations. Hundreds of companies, ranging from medium-sized businesses to Fortune 50 enterprises, have selected Workday.
Workday Financial Management is a comprehensive, unified accounting and finance application, built on a global core to help you manage your financial processes around the world easily and efficiently. With unique capabilities including business-event driven reporting and analytics, robust security, and a fully auditable business process framework, Workday can provide your organization with unprecedented controls and insight into the performance of your business.
Workday Human Capital Management is a modern, intuitive and unified human resources and talent management application built on a global core and designed to adapt with businesses as their needs and requirements evolve.
Delivered in the cloud, Workday payroll solutions offer your organization choice, flexibility and control to efficiently and accurately pay your entire workforce, no matter where they may be located.
Workday leads enterprise application innovation with its new, consumer-friendly time and attendance application, Workday Time Tracking. With Workday Time Tracking, organizations will now be able to reduce labor costs, minimize compliance risks, and increase worker productivity. .
Workday Expenses is unified with Workday’s market-leading HR and Financial Management applications, creating the optimal expense solution for today’s people-driven enterprise.