Business
Workday Commits Additional $250 Million Investment Capital to Workday Ventures to Power Technology Innovation
Reinforces Workday's Position as a Leading Artificial Intelligence and Machine Learning Innovator Driving the Future of Work PLEASANTON, Calif., Feb. 7, 2023
About this update from Workday, Inc.
[{"type":"text","content":"Reinforces Workday's Position as a Leading Artificial Intelligence and Machine Learning Innovator Driving the Future of Work\nPLEASANTON, Calif., Feb. 7, 2023 /PRNewswire/ -- Workday, Inc. (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources, today announced a $250 million expansion of its Workday Ventures fund. The additional $250 million investment capital from Workday into Workday Ventures, the strategic capital arm of Workday Inc., builds on the company's solid performance and is the latest step in its journey to shape the future of work.\n\n \n \n \n \n \n \n\n \nAt a time when global fragmentation, emerging working models, and accelerated innovation are transforming the way organizations manage their workforce, companies must embrace technologies like artificial intelligence (AI) and machine learning (ML) to help them rapidly adapt to change at scale today, so they are prepared for the business needs of tomorrow. To help support this, Workday is expanding its Workday Ventures fund to focus on larger growth areas, including emerging technologies like generative AI, which speaks to the company's ongoing focus on embracing innovations that unlock human potential in the changing world of work.\n\"This additional investment capital into Workday Ventures is reflective of our continued commitment to serving our customers, helping them not only adapt but thrive and lead the future of work,\" said Pete Schlampp, chief marketing officer and executive vice president of corporate growth, Workday. \"We partner with pioneering technology companies that are closely aligned with our values such as innovation, integrity, and customer service, and we are laser-focused on supporting customers, entrepreneurs, and changemakers that help redefine our industry.\"\nThe expansion of the fund will further reinforce Workday Ventures' strategic focus on:\nAI 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 ...