Enterprise software provider Workday invested in US-based employee management system developer Topia on Tuesday as part of a $15m series D round.
The corporate took part in the round through subsidiary Workday Ventures, investing alongside venture capital firms Notion Capital and NewView Capital. Topia has not disclosed the amount it has raised altogether but said in April 2019 its total funding stood at more than $100m.
Founded in the UK in 2010, Topia has built a software platform that enables organisations to monitor and communicate with employees worldwide, helping to streamline functions such as payroll, planning, compliance and risk management through automation.
The company completed the integration of its platform with Workday’s business planning software product, Human Capital Management, earlier this month.
The series D round follows a $48m series C featuring Notion Capital, Future Fund and New Enterprise Associates (NEA) in 2017, when Topia was still known as Move Guides. NewView was spun off by NEA the following year with 31 portfolio companies.
NEA and Notion Capital had co-led the company’s $15.6m series B round in 2015, the year after backing an $8.2m series A with angel investors David Windley and Andy Leaver, the latter an ex-Workday executive who joined Notion Capital as an executive-in-residence earlier this year.
Topia had already raised $1.8m in seed funding from Notion Capital and NEA in 2013 to add to $640,000 it received from angel investors the previous year. Its other existing investors include Beacon Capital.
