ZDNet’s Brian Sommer with a smart analysis of Workday’s recent $75M Series E venture financing win:
One implication of this financing though is clear: the pre-money valuation on this transaction must have been very, very high. To grab $75 million in financing and not dilute Dave and Greylock’s investment much mean that either NEA didn’t put much in this deal or that the pre-valuation valuation was very high. That said, this deal is a remarkable deal in that so much money was raised with a likely high valuation in this very tough economy.
[…]
Bottom line: This appears to have been a good deal for Dave, Aneel and Workday. In this market, the size of the round and the implicit valuation regarding are also impressive. The only concern is whether Workday can accelerate the signing of customers in the near-term.
(Via Dave C.)
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