Work-Bench, a New York-based venture capital firm focused on enterprise tech, has closed its Fund IV at $160 million. This project success represents the firm’s greatest milestone since its inception in 2013. The firm quickly establishes an aspirational theme by promising to invest in 23-25 seed-stage companies. These companies are powering innovation in huge markets like artificial intelligence, cybersecurity, developer tools and enterprise applications.
Work-Bench made the official announcement about launching Fund IV late last week on the Work-Bench blog. The firm’s goal is to write follow-on investment checks of $2-4 million per company. This capital will fund underrepresented, early stage founders. They are on the cutting edge of developing enterprise software, a fast-moving sector themselves.
Jonathan Lehr, co-founder of Work-Bench, was excited about the fundraising process. As far as he is concerned, it’s been the smoothest one the firm has ever had. He attributes this success to the very disciplined strategy that Work-Bench has maintained since day one. This laser focus on delivery has built deep trust with capital providers and start-up builders alike.
“This matters more than ever in today’s AI frenzied environment,” – Jonathan Lehr
The new fund will be used to target the city’s most innovative tech companies. With the increasing importance of AI, cybersecurity threats, and the need for robust developer tools, Work-Bench is strategically positioning itself to capitalize on emerging trends within the enterprise software landscape.
Work-Bench has been the active home for early-stage companies since its inception. These creators are setting the stage for new technology development and use down the road. The firm’s dedicated team is committed to identifying and nurturing startups that demonstrate potential for growth and impact in their respective markets.
The decision to focus on sectors like AI and cybersecurity shows an awareness of the new realities in the technology ecosystem. Understanding their urgency, businesses are upping their game and relying on disruptive but promising software solutions to address multifaceted challenges. To that end, investment opportunities in these areas are quickly expanding.
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