Investments
59Portfolio Exits
7Funds
2Partners & Customers
1About Workday Ventures
Workday Ventures works with promising, early stage companies to fuel the next generation of enterprise applications. Workday Ventures focuses on companies that apply data science and machine learning principles in the areas of analytics, applications, security, and platform technologies. In addition to receiving funding to accelerate growth, portfolio companies have the opportunity to gain strategic guidance from Workday's executives, board members, engineers, customers, and partners.
Workday Ventures Headquarter Location
6230 Stoneridge Mall Road Suite 200
Pleasanton, California, 94588,
United States
925-951-9000
Latest Workday Ventures News
May 20, 2022
On May 20, 2022 Led by Norwest Venture Partners with participation from industry leaders Gusto and Workday Inc.’s investment arm Workday Ventures, the funding round enables Noyo to continue development of breakthrough infrastructure technology that improves how employee benefits are administered and delivered. Noyo, the leading API platform powering frictionless benefits, announced that it has closed $45M in Series B financing. Norwest Venture Partners led the round, joined by Workday Ventures, Gusto, Cap Table Coalition, and existing investors Costanoa Ventures, Spark Capital, Homebrew, Operator Collective, Fika Ventures, Precursor Ventures, Garuda Ventures, Core Innovation Capital, and Webb Investment Network. As part of the financing, Ed Yip, partner at Norwest Venture Partners, will join Noyo’s Board of Directors. The capital represents resounding validation of Noyo’s technology and mission to unite key players in the group benefits ecosystem around the need to deliver modern, frictionless benefits experiences. The COVID-19 pandemic and the rise of a remote workforce has increased complexities for how companies offer employee benefits across multiple states, at the same time these benefits have become critical to attracting and retaining talent in a tight labor market. “Every person deserves to feel protected and supported by their benefits,” said Shannon Goggin , CEO and co-founder of Noyo. “Whether starting a new family, changing careers, planning for retirement, or something else entirely, it’s important that benefits take into account each person’s individual needs. We’re proud to be providing the technology upon which a new generation of more personalized, accessible, and understandable benefits will be built.” Founded to bring group benefits into the modern age, Noyo’s technology streamlines the digital transformation of the benefits industry, enabling fast, accurate, and secure data exchange through an API-powered data infrastructure. The company’s suite of APIs allows critical insurance and benefits data to flow from point to point or exist embedded in the applications consumers use every day, ultimately unlocking industry-wide connectivity with powerful network effects. “By enabling partners to build dynamic products and solutions atop innovative technology, Noyo not only improves everyday experiences for consumers but also acts as a powerful catalyst for further growth,” said Ed Yip, partner at Norwest Venture Partners. “We look forward to supporting Noyo’s continued progress and impact as they lead an industry-wide transition into the next era of insurance and benefits.” Noyo’s success has already earned them the partnership of major insurers and benefits software platforms, including Ameritas, Anthem, Beam, Guardian Life, Humana, Rippling, Unum, and Zenefits. This added investment from Gusto, the modern payroll, benefits and HR platform for growing teams, and Workday Ventures, which accelerates the growth of emerging enterprise companies that are valuable to Workday customers, speaks volumes to how Noyo’s technology is already advancing the industry. “Benefits are a crucial component to employee productivity and well-being,” said Mark Peek, managing director and head of Workday Ventures. “We’re choosing to invest in Noyo because their powerful platform allows these vital health services to be quickly and easily delivered to employees, which in turn improves the overall employee experience.” “Gusto’s people platform exists to help build a world where work empowers a better life. A vital part of our efforts is to increase access to affordable health coverage,” said Andy Toung, Gusto’s Chief Strategy Officer. “Our investment and product integration with Noyo is part of Gusto’s commitment to the collective ecosystem that is focused on making it easier for businesses of every size and across every industry to provide health benefits to their employees.” With this latest round of funding, Noyo will expand its product offerings, develop more partnerships with leading carriers and benefits software providers, and grow its reach and impact across new audiences and verticals. To learn more about Noyo’s technology, partnership opportunities, and careers
Workday Ventures Investments
59 Investments
Workday Ventures has made 59 investments. Their latest investment was in Noyo as part of their Series B on May 5, 2022.
Workday Ventures Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/19/2022 | Series B | Noyo | $45M | Yes | 9 | |
4/19/2022 | Series B - II | Strivr | $35M | Yes | 3 | |
2/1/2022 | Series C | League | $95M | No | TDM Growth Partners, and Undisclosed Investors | 21 |
1/18/2022 | Series A | |||||
1/11/2022 | Series B |
Date | 5/19/2022 | 4/19/2022 | 2/1/2022 | 1/18/2022 | 1/11/2022 |
---|---|---|---|---|---|
Round | Series B | Series B - II | Series C | Series A | Series B |
Company | Noyo | Strivr | League | ||
Amount | $45M | $35M | $95M | ||
New? | Yes | Yes | No | ||
Co-Investors | TDM Growth Partners, and Undisclosed Investors | ||||
Sources | 9 | 3 | 21 |
Workday Ventures Portfolio Exits
7 Portfolio Exits
Workday Ventures has 7 portfolio exits. Their latest portfolio exit was Suplari on July 28, 2021.
Workday Ventures Acquisitions
1 Acquisition
Workday Ventures acquired 1 company. Their latest acquisition was Jobcase on July 09, 2020.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
7/9/2020 | Series B | $118.5M | Acq - Fin | 2 |
Date | 7/9/2020 |
---|---|
Investment Stage | Series B |
Companies | |
Valuation | |
Total Funding | $118.5M |
Note | Acq - Fin |
Sources | 2 |
Workday Ventures Fund History
2 Fund Histories
Workday Ventures has 2 funds, including Workday Ventures II.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
2/7/2018 | Workday Ventures II | $250M | 2 | ||
7/14/2015 | Workday Ventures I |
Closing Date | 2/7/2018 | 7/14/2015 |
---|---|---|
Fund | Workday Ventures II | Workday Ventures I |
Fund Type | ||
Status | ||
Amount | $250M | |
Sources | 2 |
Workday Ventures Partners & Customers
1 Partners and customers
Workday Ventures has 1 strategic partners and customers. Workday Ventures recently partnered with Pipeline Equity on February 2, 2022.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
2/23/2022 | Partner | United States | 1 |
Date | 2/23/2022 |
---|---|
Type | Partner |
Business Partner | |
Country | United States |
News Snippet | |
Sources | 1 |
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