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/PRNewswire/ --Workday, Inc.(NASDAQ:WDAY), a leader in enterprise cloud applications forfinanceandhuman resources, today announced a$250 millionexpansion of itsWorkday Venturesfund. The additional$250 millioninvestment 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.

At 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.

"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," saidPete 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."

The expansion of the fund will further reinforce Workday Ventures' strategic focus on:

• AI 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 asParadox, which provides a conversational recruiting platform to automate the talent acquisition process.
• Intelligent Automation．工作日企业将继续投资intelligent automation of financial and HR business processes, and empower intelligent resource management for greater efficiency and talent optimization. For example, Workday Ventures has invested inAuditoria, which provides an AI-based platform to automate and increase the speed, accuracy, and productivity of accounts payable and receivable teams.
• Serving Targeted Markets．Workday Ventures is expanding investments into key industries, adjacent markets, and solutions to deliver even more value to customers. For example, Workday Ventures has invested in companies that serve the retail industry, such asPrevedere, which offers econometric forecasting powered by global data and AI, giving retailers a real-time view of future shopper demand and drivers.

"As a Workday Ventures portfolio company, Auditoria integrates with Workday Financial Management to deliver intelligent supplier automation, freeing suppliers and buyers from manual work, eliminating repetitive work, and speeding up the entire cycle," saidRohit Gupta, co-founder and CEO of Auditoria. "Partnering with Workday has enabled us to bring transformative solutions, powered by artificial intelligence, machine learning, and natural language technology, to finance teams, enabling them to move faster and accomplish more through intelligent automation at scale. The investment and partnership with Workday have allowed us to partner with CFOs to optimize and transform their operations."

This additional investment expands on Workday Ventures'existing portfolioof 43 technology companies since the initial$250 millionfund was announced in2018．

About Workday
Workdayis a leading provider of enterprise cloud applications forfinanceandhuman resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics have been adopted by thousands of organizations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500. For more information about Workday, visitworkday.com．

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Forward-Looking Statements
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SOURCE Workday Inc.