Today we’re excited to announce that Work-Bench is joining Amplify Partners, Rally Ventures, and Tribeca Venture Partners to invest in Backtrace’s $5M Series A.
Global software development costs more than one trillion dollars per year, and errors and bugs are a natural and unavoidable byproduct of writing code. Developers spend 50% of their time debugging software - a hugely inefficient time suck that detracts from an engineer’s time building software. Hundreds of billions of dollars are lost on this effort, and insufficient tools, processes, and data make debugging at scale a hairy challenge. Without a robust debugging platform, it is impossible to identify and map the similarities between errors and their corresponding root cause - a necessity in order to diagnose and fix the core issues.
Earlier in November, we hosted Don Tapscott at Work-Bench for a sold out, 300 person keynote address on his best-selling book, The Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World. One of the world's foremost experts on blockchain technologies, Don Tapscott showed how blockchain has the potential to become a foundational technology, one that is used in a wide variety of applications across all major industries - with the potential to transform the way enterprises around the world operate.
The sold out audience and the diverse group of attendees, which was evenly split between blockchain-oriented startups and corporates, demonstrates that we're on the cusp of some very interesting use cases and applications of this emerging technology. Watch the full video in its entirety below.
From leading Fortune 1000 executives to enterprise entrepreneurs with hundred million dollar exits, our mentors at Work-Bench are part of the heart and soul of everything we do. Given the unique set of procurement, sales, and pricing challenges enterprise startups face, and when all it takes is one contract to make or break an early stage enterprise startup, we've seen time and time again how valuable it can be to hear the buyer's perspective or have a voice on the other side of the table.
So with that, we're excited to add three new mentors who we've seen demonstrate their value time and again. Please join us in welcoming Scott Coleman, Scarlett Sieber, and Andrew Stern to the Work-Bench family.
Note: this article was originally published on Forbes on September 23, 2016.
Two bad companies don’t make a good one, and two old ones don’t either. This common analyst tag line is synonymous with industry consolidation, which has been quite the buzzing topic in the security sector with the uptick in M&A announcements. For those still catching up on the news: Oracle just bought Palerra, Cisco bought Cloudlock, Symantec bought Blue Coat, Vista Equity Partners bought Ping Identity and Infoblox, and more. For additional background, Steve Herrod of General Catalyst wrote a poignant article that describes the forces at play here.
The old guard buying up the new is certainly exciting news for early-stage security entrepreneurs and VCs. But is M&A really the salve for legacy company woes? As an early-stage investor in security startups, this is a constant topic of debate. Seeing how large security vendors plan inorganic growth strategies in my prior consultations as an industry analyst, I’d like to contribute some perspective on the rising M&A trend by way of examining the possible set of strategies and outcomes. We believe cybersecurity industry consolidation takes many forms, not all to the benefit of incumbents.
From 5 hires to 50 to 500, the nuts and bolts to build your startup’s recruiting processes
As an enterprise technology venture capital fund in New York City, we work with over 50 early stage go-to-market enterprise startups on two key areas: accelerating their Fortune 1000 customer acquisition and helping them build great teams.