Workday, Inc. 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. 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. 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 as Paradox, which provides a conversational recruiting platform to automate the talent acquisition process.

Intelligent Automation. Workday Ventures will continue to invest in the 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 in Auditoria, 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 as Prevedere, which offers econometric forecasting powered by global data and AI, giving retailers a real-time view of future shopper demand and drivers.