Work-Bench, whose portfolio consists of unicorns Spring Well being and Socure, simply raised a $160 million Fund IV to quadruple down on backing corporations in New York Metropolis.
The agency introduced the elevate in a weblog publish on Monday, saying the most recent fund will assist seed-stage founders constructing enterprise software program. Checks will vary from $2 million to $4 million, and the staff is wanting particularly for corporations constructing in AI, cybersecurity, developer instruments, and enterprise functions.
Jonathan Lehr, the agency’s co-founder, advised TechCrunch that the corporate hopes to put money into 23-25 corporations out of Fund IV. He mentioned that this was the smoothest fundraise but for his agency, owing it to the truth that Work-Bench has stayed “disciplined” since launching in 2013, “which issues greater than ever in immediately’s AI frenzied atmosphere.”
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