SOURCE: Workday, Inc.

Workday, Inc.

April 29, 2009 13:00 ET

Workday Secures $75 Million in Funding Led by New Enterprise Associates

Expands Management Team With Focus on Long Term Growth

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.

What's New

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 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."

About NEA

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.

About Workday

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 holders.

Contact Information

  • Media Contact Information
    Andrew McCarthy
    Workday
    (925) 951-9137
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