Workday announces US$250million tech fund

Workday today announced its US$250million Workday Ventures fund which focuses on “identifying, investing, and partnering with early to growth stage companies developing emerging technologies”.

Applying to the enterprise, its technologies include artificial intelligence (AI) and machine learning, blockchain and augmented and virtual reality.

The fund comes after Workday announced it will open up its cloud platform, creating new opportunities for its customer and partner ecosystem to extend the power of Workday’s core applications.

The investment in Workday Ventures builds on this effort and the company’s continued extensibility journey, making its people and technology expertise available to emerging companies exploring new use cases and innovations that will shape the next generation of enterprise technology.

‘Enterprise innovation’

In addition to funding, Workday Ventures portfolio companies will receive access to Workday’s extensive experience, market know-how, and global reach in the enterprise space, including:

  • Access to Workday product executives and leaders who can guide portfolio companies in navigating the enterprise including building and delivering technologies at scale as well as creating sustainable business models
  • Connections to Workday customers – some of the largest and most disruptive brands in the world totaling a community of more than 26 million users.
  • Hands-on engagement at the technology level including access to Workday data scientists, architects, and engineers.

Aneel Bhusri, co-founder and CEO at Workday, commented: “Our investment in Workday Ventures reinforces our commitment to staying at the forefront of enterprise innovation.”

Written from press release by Leah Alger