Work-Bench is an enterprise technology VC fund. We support entrepreneurs creating the next generation of enterprise technology applications and infrastructure. With $597B projected to be spent on enterprise software in 2016 per Forrester, the opportunity is massive and ripe for disruption.
Our team’s background in IT at leading investment banks Morgan Stanley and Bank of America put us front and center of the shifting technology landscape. In our ‘Office of the CIO’ roles we saw firsthand that enterprise startups not only compete for business at Fortune 1000 institutions, but these days often are displacing legacy tech incumbents.
Our strategy at Work-Bench Ventures is to co-invest alongside institutional leads and be the best bang for your cap table buck. We’re as hands on as our founders want us to be, and our value add includes facilitating tailored customer introductions and assisting with hiring. We also offer priority access into Work-Bench’s workspace if a NYC presence is desired.
Some of the trends we’re currently excited by include:
A few reasons we enterprise:
Large Market: Worldwide IT spending is on pace to total $3.7 trillion in 2014
Need for innovative technology: Enterprise technology needs are no longer being met by legacy systems, and therefore, innovative solutions are required.
Consumerization of IT: Enterprises are capitalizing by developing products and solutions aimed at improving employee productivity and customer satisfaction.
Reliable business models: Enterprise technology startups have business models from day one … and that's a good thing.
Are you selling to large corporations and Fortune 1000s? Get close to your customer in NYC. More on why we love NYC for Enterprise can be found in this blog post.