Workday announces intent to acquire Peakon

JAN 28, 2021

Under the terms of the definitive agreement, Workday will acquire Peakon for consideration of approximately $700M in cash.

We're delighted to announce that Workday, a leader in enterprise cloud applications for finance and human resources, and Balderton portfolio company, Peakon, have signed a definitive agreement under which Workday will acquire Peakon in an all-cash transaction.

Balderton first invested in Peakon in 2018. You can read Bernard's post here explaining why we loved the team and the company straight away. You can also watch Bernard interview Peakon's co-founder and CEO, Phil Chambers below on the genesis of Peakon, the deal with Workday and the future. 

Bernard sits down (virtually) with Phil Chambers to talk about the journey of Peakon and the future.

With Peakon, Workday will provide organisations with a continuous listening platform, including real-time visibility into employee experience, sentiment, and productivity, to help drive employee engagement and improve organizational performance.

The events of this past year have changed the world of work as business leaders grapple with uncertainty while needing to support employees like never before. These circumstances have forced organizations to rethink HR strategies and continually adapt approaches to engage, support, and retain talent. This includes consistently cultivating a two-way dialogue to hear, understand, and respond to employees.

To meet this moment, Workday and Peakon will come together with a continuous listening platform that will help customers capture real-time employee sentiment, facilitate ongoing feedback, and access personalized, prescriptive recommendations for actions.

The combination will merge intelligent technology from Peakon that determines and distributes surveys and information to the right person at the right time, with the comprehensive employee insight in Workday, to help leaders continually discover and respond to evolving employee feelings, needs, and behaviours. For example, customers will be able to gain better insights and understanding on employee belonging, which will help them more confidently and consistently adjust plans to foster an inclusive workplace culture.

Peakon is on the cutting edge of helping organizations turn employee insights into more connected teams and stronger organizations. Bringing Peakon into the Workday family will be very compelling to our customers - especially following an extraordinary past year that has magnified the importance of having a constant pulse on employee sentiment in order to keep people engaged and productive.

Aneel Bhusri, co-founder and co-CEO, Workday

Peakon CEO and Co-founder Phil Chambers

By joining forces with Workday, we’re able to accelerate our mission to help every employee drive the change they want to see. We share Workday’s passion for putting people at the center of technology, and together, we’ll be able to provide customers with the employee insights they need to support rapid change and growth.

Phil Chambers, co-founder and CEO, Peakon

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