Enterprise Weekly #504: Earnings, AI, NY Enterprise Tech Meetup, and More
Work-Bench is an enterprise software VC firm leading Seed rounds. If you are or know anyone thinking about founding an enterprise software startup — we’d love to meet! Please reach out to chat. 📩
All eyes were on Nvidia’s earnings this week. With a 78% surge in revenue, Nvidia exceeded analyst expectations, easing investor concerns about DeepSeek's impact on AI efficiency.
As a refresher, DeepSeek’s R1 model launched last month and matched OpenAI o1’s performance while operating on less powerful chips at a fraction of the cost. This briefly sent Nvidia’s market cap down by $600B, a nearly 18% drop, because it shook the industry's assumptions about how much capital or GPU chips a company needs to stay ahead of the competition.
However, if the earnings are a sign, the demand for AI infrastructure remains stronger than ever and reinforces the critical role of Nvidia’s AI chips—especially its latest Blackwell processors—in driving broader AI advancements.
Nvidia isn’t alone in its chip announcements this week. Amazon and Microsoft both announced their own quantum chip just last week, yet it’s estimated that commercial workloads won’t be running on quantum computers for 10+ years.
Higher up the stack, Anthropic unveiled its latest AI model Claude 3.7 Sonnet, which can give both real-time answers and more considered, “thought-out” answers to questions. Along with the model release, they unveiled Claude Code - Anthropic’s own contender in the agentic coding space.
Lastly, join our next NY Enterprise Tech Meetup on March 18th to hear what's top of mind from two of NYC's top fintech engineering leaders: Nik Koblov, Head of Engineering at Ramp and Arun Kumar, CTO of Socure.
🗓️ Join more Work-Bench events:
March 5th: Israeli Founders in NYC - a happy hour cohosted with Hetz Ventures and Meitar Law Firm
March 11th: cofounders.nyc: 'Ask Me Anything' – an informal Q&A session with Diego Oppenheimer, co-founder of Algorithmia (acq. by DataRobot)
March 12th: NYC Pre-Seed GTM Summit – a packed half-day summit designed to Pre-Seed enterprise, SaaS, and infra founders with the sales and marketing playbooks need to land customers and scale fast
📚 Read more news:
Inc: Why the Huge Slack Outage Is a Must-Read Message on Workplace Communications
TechCrunch: Did xAI Lie About Grok 3’s Benchmarks?
WSJ: UiPath CEO: Agentic Automation Will ‘Usher in a New Era of Work’
📚 Read more (th)reads:
Company: Courier Health
Role: Senior Software Engineer, Full Stack
Technology: Patient Engagement Platform
Funding: $20.5M from Norwest Venture Partners and Work-Bench
🌟 Company of the Week 🌟
Firstwork raises $5M led by Gradient
HR Tech • Seed • San Francisco, CA
Co-Founders: Vardhan Kapoor (CEO), Shubham Choudhary (CTO)
WilsonAI raises $1.7M led by Nomad Ventures
Future of Work • Pre-Seed • London, UK
Henry AI raises $4.3M led by Susa Ventures and 1Sharpe Ventures
Future of Work • Seed • New York, NY
Musubi raises $5M led by J2 Ventures
Future of Work • Seed • Santa Barbara, CA
Ethos raises $6M led by Canapi Ventures
Data / AI / Machine Learning • Seed • New York, NY
Vayu raises $7M led by Flint Capital and The Garage
Sales / Marketing • Seed • New York, NY
CTGT raises $7.2M led by Gradient
Data / AI / Machine Learning • Seed • San Francisco, CA
Anagram raises $10M led by Madrona
Risk / Security • Series A • New York, NY
COVU raises $10M led by Benhamou Global Ventures
Future of Work • Series A • San Francisco, CA
Patlytics raises $14M led by Next47
Future of Work • Series A • New York, NY
RAD Security raises $14M led by Cheyenne Ventures
Risk / Security • Series A • San Francisco, CA
Edera raises $15M led by M12
Risk / Security • Series A • Seattle, WA
Lovable raised $15M led by Creandum
Data / AI / Machine Learning • Seed • Stockholm, Sweden
Subscript raises $15M led by Pelion
Sales / Marketing • Series A • San Francisco, CA
Bridgetown Research raises $19M led by Lightspeed and Accel
Data / AI / Machine Learning • Series A • Seattle, WA
Perfect raises $23M led by Hanaco Ventures and Joule Ventures
HR Tech • Seed • Tel Aviv, Israel
Skylo raises $30M led by NGP Capital
Infrastructure / Dev Tools • Venture • Mountain View, CA
Auditoria.AI raises $38M led by Innovius Capital
Future of Work • Series B • San Jose, CA
Metronome raises $50M led by NEA
Future of Work • Series C • San Francisco, CA
Taktile raised $54M led by Balderton Capital
Data / AI / Machine Learning • Series B • New York, NY
NinjaOne raises $500M led by CapitalG and Iconiq Growth
Risk / Security • Series C • Austin, TX
MongoDB acquires Voyage AI for $220M
Data / AI / Machine Learning • Acquisition • Palo Alto, CA
IBM acquires DataStax for an Undisclosed Amount
Data / AI / Machine Learning • Acquisition • Santa Clara, CA