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Innovation Works company logo
Public-Private Partnership
FINANCE | Investment Firms & Funds
innovationworks.org

Investments

545

Portfolio Exits

36

Funds

4

Partners & Customers

6

About Innovation Works

Innovation Works invests capital, business expertise, and other resources into companies with a focus to improve regional economic impact. The platform invests in seed-stage companies in this region. Innovation Works is the Ben Franklin Technology Partner of Southwestern PA and is supported by the Department of Community and Economic Development. The company was founded in 1999 and is based in Pittsburgh, Pennsylvania.

Headquarters Location

Nova Tower 2 Two Allegheny Center, Suite. 100

Pittsburgh, Pennsylvania, 15212,

United States

412-681-1520

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Expert Collections containing Innovation Works

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Innovation Works in 1 Expert Collection, including Packaging & Labeling Tech.

P

Packaging & Labeling Tech

39 items

Companies providing traditional and tech-enabled packaging and labeling solutions for brands.

Latest Innovation Works News

French biotech startup to establish its U.S. headquarters in Pittsburgh

Jan 23, 2023

A French biotech startup that's developing a novel drug to help treat Type 2 diabetes has announced plans to establish its U.S. headquarters in Pittsburgh. To do so, AdipoPharma, which is based in the French city of Strasbourg, will build out its operations at a site within the former AGH Suburban hospital complex in Bellevue, which is also the home of a life sciences startup accelerator program from Innovation Works and Allegheny Health Network called AlphaLab Health. AdipoPharma's flagship PATAS…

Innovation Works Investments

545 Investments

Innovation Works has made 545 investments. Their latest investment was in CorePower Magnetics as part of their Pre-Seed on September 9, 2022.

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Innovation Works Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/13/2022

Pre-Seed

CorePower Magnetics

$2.5M

No

1

6/30/2022

Seed - II

MindTrace

Yes

6/29/2022

Seed - IV

BlastPoint

$0.12M

No

6/28/2022

Seed

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$99M

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0

6/28/2022

Seed - IV

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$99M

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0

Date

9/13/2022

6/30/2022

6/29/2022

6/28/2022

6/28/2022

Round

Pre-Seed

Seed - II

Seed - IV

Seed

Seed - IV

Company

CorePower Magnetics

MindTrace

BlastPoint

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Amount

$2.5M

$0.12M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

1

0

0

Innovation Works Portfolio Exits

36 Portfolio Exits

Innovation Works has 36 portfolio exits. Their latest portfolio exit was Carmell Therapeutics on January 04, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/4/2023

Acq - Pending

$99M

1

10/11/2022

Acquired

$99M

6

7/11/2022

Acquired

$99M

2

5/5/2022

Acquired

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$99M

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10

10/20/2021

Acquired

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$99M

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10

Date

1/4/2023

10/11/2022

7/11/2022

5/5/2022

10/20/2021

Exit

Acq - Pending

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

6

2

10

10

Innovation Works Fund History

4 Fund Histories

Innovation Works has 4 funds, including Riverfront Ventures LLC.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/24/2014

Riverfront Ventures LLC

Early-Stage Venture Capital

Closed

$24M

1

11/1/2012

IW Fund II

$99M

0

Sinovation Fund III

$99M

10

Covid-19 Relief Fund

10

Closing Date

12/24/2014

11/1/2012

Fund

Riverfront Ventures LLC

IW Fund II

Sinovation Fund III

Covid-19 Relief Fund

Fund Type

Early-Stage Venture Capital

Status

Closed

Amount

$24M

$99M

$99M

Sources

1

0

10

10

Innovation Works Partners & Customers

6 Partners and customers

Innovation Works has 6 strategic partners and customers. Innovation Works recently partnered with Allegheny Health Network on September 9, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

9/25/2020

Partner

United States

Allegheny Health Network, Innovation Works Announce New Startup...

`` We believe Allegheny Health Network 's partnership with Innovation Works will spur further economic development in this region , and contribute to a stronger investment ecosystem for all health care entrepreneurs . ''

4

3/29/2019

Partner

United States

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10

3/28/2019

Vendor

United States

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10

12/15/2017

Partner

United States

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10

9/9/2011

Partner

United States

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10

Date

9/25/2020

3/29/2019

3/28/2019

12/15/2017

9/9/2011

Type

Partner

Partner

Vendor

Partner

Partner

Business Partner

Country

United States

United States

United States

United States

United States

News Snippet

Allegheny Health Network, Innovation Works Announce New Startup...

`` We believe Allegheny Health Network 's partnership with Innovation Works will spur further economic development in this region , and contribute to a stronger investment ecosystem for all health care entrepreneurs . ''

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Sources

4

10

10

10

10

Innovation Works Team

6 Team Members

Innovation Works has 6 team members, including current Chief Executive Officer, President, Rich Lunak.

Name

Work History

Title

Status

Rich Lunak

Chief Executive Officer, President

Current

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Name

Rich Lunak

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Work History

Title

Chief Executive Officer, President

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Status

Current

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