As Vinnie Mirchandani says, $75 million in this environment is impressive. If you were looking for a sign that the enterprise app cloud is coming of age, even despite tight times, this win for Workday is a pretty big signal from the market.
From the press release:
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 hired Clark Newby – previously with Fortify Software – as its new vice president of marketing. About Newby:
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.
I love the fact that Workday is focusing on expanding its executive management team as it plans for long-term growth.
Again, even though it’s a little rough out there right now, it’s no time to hunker down and do nothing. If anything, now is the time to invest and move forward when others are afraid to. Workday obviously sees things the same way.
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