Work-Bench Raises $160 Million Fund IV to Support Seed-Stage Founders in NYC
Work-Bench, a venture capital firm known for backing unicorns like Spring Health and Socure, has recently announced the closing of their $160 million Fund IV. The firm is looking to quadruple down on supporting companies in New York City.
The news of the fundraise was shared in a blog post on Monday, highlighting their focus on seed-stage founders developing enterprise software. Work-Bench plans to write checks ranging from $2 million to $4 million, with a keen interest in startups working on AI, cybersecurity, developer tools, and enterprise applications.
Jonathan Lehr, co-founder of Work-Bench, expressed his excitement for Fund IV, stating that the firm aims to invest in 23-25 companies with this new capital. Lehr mentioned that this fundraise was the smoothest one yet for Work-Bench, attributing its success to the firm’s disciplined approach since its establishment in 2013. He emphasized the importance of maintaining discipline in today’s AI-driven landscape.
