 | |
 Headquarters in Pleasanton, California | |
| Company type | Public |
|---|---|
| |
| ISIN | US98138H1014 |
| Industry | |
| Founded | March 2005; 20 years ago (2005-03) |
| Founders | |
| Headquarters | Pleasanton, California, U.S. |
Area served | Worldwide |
Key people |
|
| Services | |
| Revenue |  US$7.26 billion (2024) |
| US$183 million (2024) | |
| US$1.38 billion (2024) | |
| Total assets | US$16.5 billion (2024) |
| Total equity | US$8.08 billion (2024) |
Number of employees | 18,800 (2024) |
| Website | workday |
| Footnotes / references Financials as of January 31, 2024[update].[1] | |
Workday, Inc., is an American on‑demand (cloud-based)financial management,human capital management, andstudent information system software vendor. Workday was founded byDavid Duffield, founder and former CEO ofERP companyPeopleSoft, along with former PeopleSoft chief strategistAneel Bhusri, followingOracle's acquisition of PeopleSoft in 2005.[2]
In October 2012, Workday launched a successfulinitial public offering that valued the company at $9.5 billion.[3] Competitors of Workday includeSAP Successfactors,Dayforce,UKG, andOracle.[4]
In 2020,Fortune magazine ranked Workday Inc. at number five on their Fortune List of the Top 100 Companies to Work For in 2020 based on an employee satisfaction survey.[5]San Francisco Business Times ranked Workday at number two on their Best Places to Work in the Bay in the largest companies category.[6]
Workday was founded in March 2005 and launched in November 2006.[7][8] Initially, it was funded byDavid Duffield and the venture capital firmGreylock Partners. In December 2008, Workday moved its headquarters fromWalnut Creek, California, toPleasanton, California, where PeopleSoft founder Duffield's prior company was located.[9][10]
On February 6, 2008, Workday announced that it had reached a definitive agreement to purchaseCape Clear Software.[11] In May 2008, Workday signed a large contract withFlextronics to provide human capital management software services.[12] Companies that have publicly disclosed contracts or deployments of Workday includeAviva,[13]Chiquita Brands, and other firms.[14][15][16][17][18]
On April 29, 2009, Workday announced that it had secured $75 million in funding led byNew Enterprise Associates. Existing investors Greylock Partners and Workday CEO and co‑founder Dave Duffield also participated in the round.[19] On October 24, 2011, Workday announced $85 million in new funding, bringing the total capital raised to $250 million. Investors in the latest round includedT. Rowe Price,Morgan Stanley Investment Management,Janus, andBezos Expeditions.[20] As of spring 2012, Workday had 310 customers, ranging from mid-sized businesses toFortune 500 companies.[21]
In October 2012, Workday launched itsinitial public offering (IPO) on theNew York Stock Exchange withticker symbol WDAY. Its shares were priced at $28 and ended trading Friday, October 12, at $48.69, which "propelled the start-up to amarket capitalization of nearly $9.5 billion includingunexercised stockoptions." It sold 22.75 millionClass A shares, raising $637 million. The IPO raised more cash than any launch in the U.S. technology sector sinceFacebook's $16 billion IPO in May 2012. Its shares surged 74% in their IPO, underscoring investor interest incloud computing.[3]
In 2016, Workday launched a cloud-basedstudent information system[22] to augment its portfolio of financial management and human capital management products. In 2018, Workday acquired Filip Doušek's company Stories.bi.
The CEO of Workday wasAneel Bhusri, who is a partner withGreylock Partners and handled senior leadership positions earlier in his career at PeopleSoft. In 2020, Chano Fernandez was promoted to co-CEO along with Bhusri. Dave Duffield served as the chairman of the board until his resignation in April 2022, after which Aneel Bhusri took over as the chairman.[23]
In November 2021, Workday announced its acquisition of VNDLY, a startup that helps companies manage external workforce personnel, for $510 million.[24]
Sequoia Capital's Carl Eschenbach replaced Fernandez as co-CEO in December 2022. The company also announced that Eschenbach would become its sole CEO after March 2024, when Bhusri will move to the role of executive chair.[25] Eschenbach is now the company's sole CEO.
It was announced in February 2025 that Workday would cut 8.5% of its workforce in favor of investing inartificial intelligence to counter a "softermacroeconomic environment".[26]
Adaptive Insights was asoftware as a service company founded in 2003 and headquartered inPalo Alto, California. The company was acquired by Workday in a $1.55 billion deal completed in August 2018,[27] renaming the company and its core product toWorkday Adaptive Planning.
In 2003, Robert S. Hull and Richard L. Dellinger co-founded Adaptive Planning to market enterprise budgeting, forecasting, and reporting software as an alternative tospreadsheet-based planning or largeron-premises software. Adaptive Planning was an early user of thesoftware as a service (SaaS) model forbusiness intelligence and corporate performance management. In 2003, it was incorporated inDelaware as Visus Technology, renamed asAdaptive Planning.[28] It was incubated at Onset Ventures inMenlo Park, California.
In 2009, Adaptive Insights partnered withNetSuite, Inc. and is currently a member of the SuiteCloud Developer Network. The company also integrates with other cloud ERP solutions fromSage Intacct,Microsoft, and others.[29] Adaptive Insights partners with associates inAustralia,Canada,Europe,India,Japan,New Zealand, the UK and the United States.[29]
In September 2012 the company acquired theLouisville, Colorado based companymyDIALS for an undisclosed amount. By October 2013, Adaptive Planning held a fourth round offundraising, totaling $45 million. The company also addedsalesforce.com as a backer.[30]
In February 2014, Adaptive Planning was renamed Adaptive Insights and released a new version of the software with an updated user interface.[31]
In January 2015, the company appointed Citrix Chairman Tom Bogan as CEO.[32][33] In June, the company reported another investment round of $75 million with several investors, includingNorwest Venture Partners, ONSET Ventures,Bessemer Venture Partners, Cardinal Venture Capital, Information Venture Partners, and others.[34]
In April 2018, the company announced it added 500 net new customers in 2018, bringing Adaptive Insights' totalcustomer base to more than 3,700 customers worldwide in FY2018.[35] In August, Workday completed the acquisition of Adaptive Insights, announcing that the company would operate as Adaptive Insights, a Workday company.[27] In May 2020, Adaptive Insights rebranded once again and was renamed Workday Adaptive Planning.
Workday sellssubscriptions to its services.Expenses arebooked up front when it signs on a new customer, but the associatedrevenue isrecognized over the life of multiyear agreements. In the first quarter 2016, Workday announced annual revenue in excess of $1 billion for the first time ever in fiscal year 2016.[36]
Duffield holds voting rights to Workday shares that are worth $3.4 billion and Bhusri holds voting rights to shares valued at $1.3 billion. Collectively, they hold 67% of the company's voting shares. This voting structure makes the event of ahostile takeover much less likely.[3]
Workday provides a software to help businesses manage finances andhuman resources.[37][38] Key features include:
In February 2014, Workday acquired the startup Identified and its artificial intelligenceSyman to create its Insight Apps line of products. The first products running SYMAN were announced at Workday Rising 2014.
In July 2017, Workday CEO Aneel Bhusri announced that the company had decided to open up its platform to developers, partners and third-party software. As a result, Workday will enter thePlatform as a Service (PaaS) market.[41] Bhusri said the move will allow customers to build custom extensions and applications to work with Workday.[42]
In January 2018, Workday announced that it acquired SkipFlag,[43] makers of an AI knowledge base that builds itself from a company's internal communications.[44]
Workday has released 39 updates to its product line as of September 2022, the most recent being "2022 R2". It releases a major update every 6 months, in September and March.[citation needed]
Workday operates data centers located inAshburn, Virginia;Lithia Springs, Georgia;Portland, Oregon;Dublin, Ireland;Amsterdam, Netherlands; and also usesAmazon Web Services for its primary computing infrastructure platforms in order to accelerate its worldwide expansion.[45]
The Workday Adaptive Planning application is a cloud-based software app designed to help organizations with financial planning, budgeting, forecasting, and reporting. It is a part of the broader Workday suite of enterprise applications, which includes solutions for human resources, finance, sales, operations, and HR in their planning processes. The app covers the planning, consolidation, analytics, and reporting functions with its Business Planning Cloud.[46] It automates consolidations and integration of data from other systems and enables collaboration and real-time updates via its on-demand SaaS-based model.
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| Acquisition number | Acquired company | Acquisition date | Location | Specialty |
|---|---|---|---|---|
| 19 | Evisort | September 2024 | USA | Document intelligence for contract management |
| 18 | HiredScore | February 2024 | USA | AI for recruiting |
| 17 | VNDLY[47] | November 2021 | Ohio, USA | Contractor and external staffing vendor management |
| 16 | Zimit | September 2021 | Florida, USA | Quotation management |
| 15 | Peakon | March 2021 | Copenhagen, Denmark | Employee engagement |
| 14 | Scout RFP | December 2019 | California, USA & Riga, Latvia | Sourcing software |
| 13 | TrustedKey | July 2019 | Washington, USA | Identity management |
| 12 | Stories.bi | July 2018 | Prague, Czech Republic | Augmented analytics |
| 11 | Adaptive Insights | June 2018 | California, USA | Business planning |
| 10 | Rallyteam | June 2018 | California, USA | Talent agility platform |
| 9 | SkipFlag | January 2018 | California, USA | Machine learning (AI)[44] |
| 8 | Pattern | August 2017 | California, USA | Team collaboration |
| 7 | Platfora | July 2016 | California, USA | Analytics |
| 6 | Zaption | June 2016 | California, USA | Content management |
| 5 | Mediacore | October 2015 | British Columbia, Canada | Learning |
| 4 | Upshot | July 2015 | California, USA | Talent management |
| 3 | Gridcraft | April 2015 | Colorado, USA | Planning |
| 2 | Identified | February 2014 | California, USA | Recruiting |
| 1 | CapeClear | February 2008 | Dublin, Ireland | Web services integration |
In May 2021, Workday signed a sponsorship deal withFormula One as the regional finance & human resource enterprise partner across the UK and Germany.[48] The deal was renewed and expanded in 2022, where Workday will be a regional partner of Formula One in a multiyear deal.[49]
In March 2023, Workday signed a multiyear sponsorship deal withMcLaren as an official partner.[50]
