New York-focused VC Work-Bench has raised a fresh $160M

Tech Crunch - May 13th, 2025

Work-Bench has successfully raised $160 million for its Fund IV, which is aimed at supporting seed-stage founders focusing on enterprise software in New York City. The firm plans to make investments ranging from $2 million to $4 million in companies that are developing solutions in AI, cybersecurity, developer tools, and enterprise applications. Jonathan Lehr, co-founder of Work-Bench, highlighted the disciplined approach of the firm since its inception in 2013 as a key factor in the smooth fundraising process. This new fund aims to invest in approximately 23-25 companies, expanding their already notable portfolio that includes unicorns like Spring Health and Socure.

The announcement of Fund IV comes at a time when AI and cybersecurity are at the forefront of technological advancement and investment interest. Work-Bench's focus on these areas reflects the growing demand for innovative enterprise solutions. By concentrating on New York City, the firm is poised to leverage the city's robust tech ecosystem. The fund's success also underscores the importance of strategic, disciplined investment in navigating today's competitive and evolving venture capital landscape. This move not only signals confidence in the growth potential of enterprise software startups but also reinforces Work-Bench's commitment to fostering innovation in the tech sector.

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Story submitted by Fairstory

RATING

7.0

Fair Story

Consider it well-founded

The article effectively communicates the key details of Work-Bench's new $160 million fund, including its focus on supporting enterprise software startups in New York City. It accurately reports on the fund's size and objectives, though some specific claims lack direct verification. The article is clearly written and timely, aligning with current trends in AI and cybersecurity. However, it could benefit from a broader range of perspectives and independent sources to enhance balance and source quality. While the story is relevant to those in the venture capital and tech sectors, its potential impact and engagement with a wider audience are limited by its niche focus.

Accuracy

The story accurately reports on Work-Bench's $160 million Fund IV, correctly identifying its purpose to support seed-stage founders in enterprise software. The mention of unicorns Spring Health and Socure in their portfolio is also verified. However, some specific details, such as the number of companies targeted for investment and the specific focus on AI and cybersecurity, are not directly confirmed in the available sources. The quote from Jonathan Lehr about the smoothness of the fundraise and the firm's discipline is not verified, indicating minor gaps in precision.

Balance

The article primarily focuses on Work-Bench's achievements and future plans, presenting a positive view of the firm's actions. While this perspective is relevant, it lacks a broader view that might include potential challenges or criticisms of the venture capital industry or the specific sectors they are investing in. This creates a slight imbalance, as it does not explore other viewpoints or potential risks associated with the fund's focus areas.

Clarity

The article is clearly written, with a logical flow that succinctly presents Work-Bench's new fund and its objectives. The language is straightforward and free of jargon, making it accessible to readers with varying levels of familiarity with venture capital. However, the lack of detailed context for some claims may leave readers with questions about the broader implications of the fund's focus.

Source quality

The story references a blog post from Work-Bench and an interview with Jonathan Lehr, which are credible sources for information about the firm's activities. However, reliance on these internal sources without additional independent verification or commentary from industry experts limits the breadth of the report. The lack of diverse sources could affect the perceived impartiality and depth of the coverage.

Transparency

The article provides clear information about the fund's size, purpose, and targeted investment areas but lacks transparency in sourcing some specific claims, such as the number of companies intended for investment and the sectors of interest. The absence of direct quotes or links to the original blog post or interview limits the transparency of the reporting process, making it difficult for readers to assess the basis of certain claims fully.