Workday Secures $75 Million in Funding Led by New Enterprise Associates
PLEASANTON, CA--(Marketwire - 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.
-- NEA is one of the industry's most
respected venture capital firms with investments in leading technology
innovators such as Data Domain and WebEx.
-- With the investment, NEA General Partner Scott
Sandell has joined the Workday board.
-- Workday plans to employ the funds to extend its product portfolio and
support the company's expansion.
Workday also named Clark
Newby vice president of marketing, leading the company's branding,
marketing and corporate communications efforts worldwide.
-- Newby joins from Fortify Software, where he was vice president of
marketing. Newby was previously vice president of marketing for data
center software company PolyServe, where he drove strategic marketing and
communications initiatives and led product marketing through the company's
2007 acquisition by Hewlett-Packard. Newby also held marketing leadership
roles at Mercury Interactive, Kintana and Silicon Graphics.
Comments on the News
"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
"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
Workday is the leader in SaaS-based enterprise solutions for 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 80 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.
© 2009. Workday, Inc. All rights reserved. Workday and the Workday logo
are registered trademarks of Workday, Inc. Workday Enterprise Business
Services, Workday Human Capital Management, Workday Business Management,
Workday Financial Management, Workday Resource Management and Workday
Revenue Management are all trademarks of Workday, Inc. All other brand and
product names are trademarks or registered trademarks of their respective
Expands Management Team With Focus on Long Term Growth
Expands Management Team With Focus on Long Term Growth
Contact Information: Media Contact Information Andrew McCarthy Workday (925) 951-9137