Work-Bench, a NYC-Based VC Firm, Raises $160 Million in New Funding

Work-Bench, recognized for its investments in unicorns such as Spring Health and Socure, has successfully secured $160 million for Fund IV, with the goal of significantly bolstering its support for companies in New York City.

In a blog post published on Monday, the firm disclosed that the new fund will concentrate on assisting seed-stage founders who are creating enterprise software. Investment amounts will range from $2 million to $4 million, with a particular focus on companies specializing in AI, cybersecurity, developer tools, and enterprise applications.

Jonathan Lehr, co-founder of the firm, told TechCrunch that Work-Bench aims to invest in 23-25 companies through Fund IV. He highlighted that this fundraising initiative has been the most seamless to date, crediting its success to the company’s disciplined strategy since its establishment in 2013, which has become increasingly crucial in today’s swiftly changing AI landscape.