Work-Bench Raises $160M for NYC Startups
▼ Summary
– Work-Bench raised $160 million for its Fund IV to focus on investing in New York City-based enterprise software startups.
– The fund will target seed-stage companies, with investments ranging from $2 million to $4 million per startup.
– Work-Bench is specifically interested in AI, cybersecurity, developer tools, and enterprise applications.
– The firm plans to invest in 23-25 companies from Fund IV, as stated by co-founder Jonathan Lehr.
– Lehr attributed the smooth fundraise to Work-Bench’s disciplined approach since its 2013 launch, especially in the current AI-driven market.
New York-based venture capital firm Work-Bench has secured $160 million for its fourth investment fund, reinforcing its commitment to supporting enterprise software startups in the city. The fund will focus on early-stage companies developing solutions in AI, cybersecurity, developer tools, and enterprise applications, with initial investments typically ranging between $2 million and $4 million.
Work-Bench, known for backing high-growth firms like Spring Health and Socure, plans to allocate capital to 23-25 startups from this latest fund. Co-founder Jonathan Lehr noted that this fundraising round was their most seamless yet, attributing the success to the firm’s disciplined approach since its 2013 launch. In a market increasingly driven by AI hype, Lehr emphasized that strategic focus and measured growth remain critical for long-term success.
The firm’s latest move signals confidence in New York’s evolving tech ecosystem, particularly for B2B software innovators. With this fresh capital, Work-Bench aims to identify and nurture the next wave of enterprise leaders while maintaining its reputation for selective, high-impact investments.
(Source: TechCrunch)
