The cloud application development company for human resources and the financial sector Workday has announced the expansion of its investment fund Workday Ventures with 250 million of dollars. The company has indicated that it is taking this step so that its investment arm has the necessary muscle to invest in initiatives focused on developing the technological needs of companies in the future. Above all, in those that are related to machine learning and Artificial Intelligence.
In addition to increasing its fund endowment, Workday is also expanding Workday Ventures to focus on high-growth areas. Among them, emerging technologies such as generative Artificial Intelligence. Specifically, the fund’s capital increase will be aimed at the areas on which it will focus its strategic activity from now on. They are the following:
- Artificial Intelligence and Machine Learning: Workday Ventures is focused on investing in enterprise software companies that offer Artificial Intelligence and Machine Learning technologies, which can power agile, data-driven decision-making for finance and resource teams humans.
- Intelligent Automation: It’s one of the lines that the Workday fund was already investing in. Specifically, in intelligent automation of human resources and finance business processes. Also in projects dedicated to promoting intelligent resource management.
- Serving Specific Sectors: The fund will increase its investment in key sectors and adjacent markets. Also in solutions designed to increase the value that companies offer their customers.
Workday Ventures announced its creation in 2018, with an initial endowment of $250 million. From then until now, he has invested in 43 technology companies. This reinforcement, according to Pete Schlampp, Vice President of Growth and Head of Marketing at Workday«It shows our continued commitment to serving our customers, helping them not just adapt, but shine and lead the future of work. We partner with pioneering technology companies that align with our values of innovation, integrity and customer service. We are focused on supporting the customers, entrepreneurs and changemakers who are helping to redefine our industry.r».
