Investments
545Portfolio Exits
36Funds
4Partners & Customers
6About 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.
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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.
Packaging & Labeling Tech
39 items
Companies providing traditional and tech-enabled packaging and labeling solutions for brands.
Latest Innovation Works News
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.
Innovation Works Investments Activity
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 | |||||
6/28/2022 | Seed - IV |
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 | ||
Amount | $2.5M | $0.12M | |||
New? | No | Yes | No | ||
Co-Investors | |||||
Sources | 1 |
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 | 1 | |||
10/11/2022 | Acquired | 6 | |||
7/11/2022 | Acquired | 2 | |||
Date | 1/4/2023 | 10/11/2022 | 7/11/2022 | ||
|---|---|---|---|---|---|
Exit | Acq - Pending | Acquired | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 1 | 6 | 2 |
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 | ||||
Sinovation Fund III | |||||
Covid-19 Relief Fund |
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 | |||
Sources | 1 |
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 | ||||
3/28/2019 | Vendor | ||||
12/15/2017 | Partner | ||||
9/9/2011 | Partner |
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 | ||||
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 . '' | ||||
Sources | 4 |
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 | |
Name | Rich Lunak | ||||
|---|---|---|---|---|---|
Work History | |||||
Title | Chief Executive Officer, President | ||||
Status | Current |
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