🦊/Investors

Innovation Works

Acceleratoroperating company · company profile

Pittsburgh · Pre-Seed–Series A · 43 people tracked

Find your way into Innovation Works

1,052 people in our graph share verified history with the Innovation Works team — schools, employers, funds. One of them is your warm intro.

Javier Solterounlockedknows Shelly Brown · together at Carnegie Mellon University (overlapped)
knows the team · via University of Pennsylvania
×3knows the team · via Carnegie Mellon University
knows the team · via TechCrunch
×2knows the team · via Morgan State University
knows the team · via Bayer HealthCare
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Investment thesis

Innovation Works focuses on nurturing the tech ecosystem in Southwestern Pennsylvania, supporting early-stage entrepreneurs with a continuum of resources tailored to each startup's stage. Its programming spans youth initiatives, one of the country's top accelerators, and grants that help manufacturing startups scale. The organization pairs capital with mentorship and operational support led by experienced entrepreneurs, aiming to help founders go further faster and to strengthen the regional innovation economy.

Source: firm website, verified Aug 7, 2026.

Stage
Pre-Seed–Series A
Check
$100K – $300K
HQ
Pittsburgh, Pennsylvania, US
Instruments
Equity · Grants
Founded
1988
Portfolio companies
25
Unicorns
1
IPOs
1

Team · 43 people

from the firm's website & curated & public directories
Bob Starzynski· Chief Business Development Officer and Treasurer
Candice Lutz· Accountantin
Carl Daley· Board Member

EVP, CFO and Treasurer at Highmark Health.

Cindy Franc· Program Assistant – Startable, Communications and Human Resourcesin
David K. Roger· Board Member

President of Hillman Family Foundations.

Deborah Walker· Senior Legal Counselin
Ian Goeke· Salesforce Administratorin
Jimmy Williams Jr.· Board Member

PhD; Senior VP and Chief Technology Officer at ATI.

Kelly Englert· Grant Writerin
Kristen Bucci· Executive Assistant/Office Managerin
Linda Murphy· Office & Facilities Managerin
Milan Minott· Accelerator Operations Leadin
Peggy McAdams· Accounting Managerin
Stephen C. Chen· Board Member

General Counsel and Corporate Secretary at Duolingo, Inc.

Steve Welles· Managing Director, Softwarein
Theresa Mayer· Board Member

Vice President for Research at Carnegie Mellon University.

Tom Jones· Board Chair

Board Chair and COO of CapSen Robotics, Inc.

Founder mafia

5 people who came through Innovation Works went on to found or lead other companies.

What they invest in

from 18 of 25 portfolio companies

Healthtech ×6Enterprise Software ×5Biotech ×4Medical Devices ×4Consumer ×3Deep Tech ×3Fintech ×3Hardware ×3

HQs:United States×16China×1

Portfolio companies · 25 tracked

alumni founders can tell you what the program is really like

By year:2024 · 12023 · 82022 · 12021 · 32017 · 12014 · 115 dated

Duo Oncologyduooncology.comin𝕏Feb 2021✓ verified

Duo Oncology is a clinical-stage company developing tumor-activated prodrug combinations intended to replace toxic multi-agent chemotherapy with single medicines that concentrate activity in tumors.

BiotechHealthtechPittsburgh, US

SONG LI(Director, Promoter)JING-ZHOU HOU(Executive Officer, Director, Promoter)Sam Rothstein(CEO & Cofounder)inKatherine Eichinger(Chief Operating Officer)STEPHEN THORNE(Executive Officer, Promoter)in

BoardJOE GATTO(Director)in

Co-investorsUlu VenturesNuFund Venture GroupNuFund

Exchangelodgeexchangelodge.comin𝕏✓ verified

Exchangelodge automates data workflows for private markets investors and fund managers, integrating systems and cleansing data to support critical decision-making for GPs, LPs, and service providers.

Data & InfrastructureEnterprise SoftwareFintechSaaSPittsburgh, US

Ian Rubenstein(CEO)in

Co-investorsBeresford Ventures

Plexision, Inc.plexision.comin𝕏✓ verified

Plexision develops cellular biomarker-based blood tests for personalized diagnostics and drug development in infectious diseases, transplant rejection, and immuno-oncology.

AI & Machine LearningBiotechDigital HealthMedical DevicesPittsburgh, US

Rakesh Sindhi(Co-founder, Chief Scientific Officer and Chief Executive Officer)

Co-investorsRichard King Mellon Foundation

Qbb6qbb6.com✓ verified

Qinbaobao is an AI-powered platform serving families with parenting and childcare guidance, offering a mobile app, consumer products, and smart hardware like baby monitors and smart cribs.

ConsumerFoodTechHardwareHealthtechHangzhou, CN

Feng Peihua(Founder)

Co-investorsShunwei Capital

AlphaLabalphalab.orgin𝕏

AlphaLab is an accelerator program based in Pittsburgh that supports high-growth startups across software, hardware, life sciences, and robotics through mentorship, resources, and investor connections.

Developer ToolsEnterprise SoftwareFuture of WorkHardwarePittsburgh, US

Calendlycalendly.comin𝕏

Calendly is a scheduling platform that integrates with Microsoft Teams to automatically generate and include Teams video conferencing links in calendar events.

Enterprise SoftwareFuture of WorkSaaS

Tope Awotona(Founder, Chief Executive Officer)in

Co-investorsAlumni VenturesAtlanta Tech VillageBasecamp FundCoatue ManagementCVX VenturesFirst Row Partners+13 more

D.Soled-sole.cominPre-Seed · Dec 2023 · $100K

D-Sole makes a sensor-equipped insole, mobile app, and clinician dashboard for early warning and monitoring of foot complications caused by diabetic peripheral neuropathy.

AI & Machine LearningDigital HealthHealthtechMedical DevicesPittsburgh, US

Co-investorsTechstars

Honeycomb Credithoneycombcredit.comin𝕏Seed · Mar 2021 · $2M

Honeycomb Credit runs an investment crowdfunding platform where individuals can invest in local small businesses, such as breweries, restaurants, and shops, in exchange for potential returns.

FintechImpact & Social GoodMarketplacesPittsburgh, US

George Cook(Co-founder & CEO)inKen Martin(Founder)inMathias Jamora(CFO)inChristian Bilger(Executive Officer)Edward Engler(Director)

Co-investorsAmerican Family Insurance Institute for Corporate and Social ImpactCitta CapitalDelaware Crossing Investor GroupMudita VentureSustainVCSymphonic Capital+2 more

Ilant HealthinPre-Seed · Dec 2023 · $100K

Claymont, US

Elina Onitskansky(Executive Officer, Director, Promoter)in

BoardAryeh Ganz(Director)Matthew Klitus(Director)

Co-investorsCity LightCornucopian Capital ManagementLifeX VenturesPeakBridge VC

Kloopifykloopify.comFeb 2023 · $1.5M

Kloopify provides SKU-level cost intelligence and analytics for supply chain procurement, helping enterprises understand cost drivers across materials, labor, energy, tariffs, and other inputs to negotiate with suppliers and model supply chain volatility.

Data & InfrastructureEnterprise SoftwareLogistics & Supply Chain

Co-investorsBlack Tech Nation VenturesTrue Wealth Ventures

Kodablekodable.com𝕏

Kodable is a K–5 STEM education platform that teaches kids digital literacy, typing, and coding through play-based games and self-guided lessons.

EdTechGaming

Jon Mattingly(Founder)in

Co-investors500 GlobalImagine K12

Magnify Biosciencesmagnifybiosci.comPre-Seed · Dec 2023 · $100K

Magnify Biosciences develops expansion microscopy tools and services, including the Magnify Kit with a proprietary hydrogel chemistry, that let researchers and labs perform super-resolution nanoscale imaging without extensive method development.

BiotechDeep TechMedical Devices

MetasTx LLCmetastx.comPre-Seed · Dec 2023 · $100K

MetasTx is a precision oncology company developing a companion diagnostic to identify prostate cancer patients at high risk of metastasis, paired with next-generation cKit (KIT) inhibitor therapies to block cancer spread and drug resistance.

BiotechDeep TechHealthtech

Harvey D. Homan(Chief Executive Officer & Co-Founder)Somanath Shenoy(Co-Founder & Translational Science Lead)David Crich(Head of Chemistry)Jackson (Jay) B. Gibbs(Chief Science Officer)Jonathan Chernoff(Board of Managers)Brian Cain(Board Member & Strategic Growth Advisor)

Meter Feedermeterfeeder.comin𝕏Apr 2022 · $2.6M

Meter Feeder enables autonomous vehicles to conduct machine-to-machine transactions with municipal parking systems for meter payments, eliminating the need for human intervention or illegal parking.

FintechIoTMobility & TransportationPittsburgh, US

Jim Gibbs(Founder/CEO)inDaniel Lopretto(Founder/CTO)inWarner Macklin(Director)

Co-investorsAutomotive Ventures MobilityMountain State CapitalOssian CapitalTrucks VCY CombinatorPrecursor Ventures+1 more

Rimsysrimsys.ioin𝕏Dec 2021 · $16M

Rimsys provides regulatory information management software that centralizes product registrations, submissions, compliance tracking, and change management for medical device manufacturers operating globally.

Enterprise SoftwareHealthtechMedical DevicesSaaSPittsburgh, US

Brad Ryba(CSO and Co-Founder)inJames Gianoutsos(Founder and CEO)in

BoardAndrew Hedin(Director)inJohn McIlwraith(Director)inEric Boduch(Director)in

Co-investorsAllos VenturesBessemer Venture PartnersRiverfront Ventures, LLC

Robotics Factoryroboticsfactory.orgin

The Robotics Factory supports the development of robotics startups in Southwestern Pennsylvania by providing workforce development, resources, and funding through Create, Accelerate, and Scale programs that connect emerging companies to regional manufacturing capabilities.

Advanced ManufacturingDeep TechHardwareRoboticsPittsburgh, US

Kevin Dowling(Managing Director of the Robotics Factory and Hardware)in

BoardAaron Tainter(Director of Accelerators)in

Subtl Beautysubtlbeauty.cominDec 2023 · $5.5M

Subtl Beauty sells customizable, compact makeup "staks" that combine a full-face routine — including BB powder, concealer, bronzer, blush, eyeshadow, and lip products — into a single portable compact.

ConsumerDirect to ConsumerE-commercePittsburgh, US

Rachel Reid(Chief Executive Officer)in

Co-investorsRevUp CapitalCult Capital

Villievillie.coinPre-Seed · Mar 2024 · $700K

Villie provides a shareable web page that lets expecting and new parents coordinate support from their community, including requests for gifts, donations, and help with tasks, plus features like multiple baby registries, group updates, and a gender reveal game.

ConsumerFemTechSocial

Melissa Antal Iftimie(Founder)in

Co-investorsStone Mountain VenturesXRCFearless Fund

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

HirekuKextilResilient LifescienceScalable grantsShowClixTesta-Seat

Exits · 1

1 IPOs

Zhihu (知乎)NYSE: ZH

Portfolio news

latest coverage across their companies

IPO stake values · per SEC filings

Value of this firm's stake in each portfolio company at its IPO price, from the prospectus principal-stockholder table.

CompanyOwnedIPO priceAt IPOStake value
Zhihu (知乎)11.2%$9.50Mar 2021$299.5M

Source: SEC S-1 / 424B prospectus filings. Stake value = shares beneficially owned × the initial public offering price, as disclosed — a market value at IPO, not a return multiple (the firm's original cost is not disclosed).

Frequently asked questions

How many investments has Innovation Works made?
Innovation Works has 25 tracked investments, 1 of which have exited.
What stage does Innovation Works invest at?
Innovation Works invests at the Pre-Seed, Seed, Series A stages.
What is Innovation Works's typical check size?
Innovation Works typically writes checks of $100K – $300K.
What sectors does Innovation Works focus on?
Innovation Works focuses on Advanced Manufacturing, Biotech, Consumer, Data & Infrastructure, Enterprise Software, Hardware, Medical Devices, Robotics, SaaS, Sector Agnostic.
Where is Innovation Works located?
Innovation Works is headquartered in Pittsburgh, US.
Who does Innovation Works co-invest with?
Innovation Works most often shares deals with Coatue Management, Gener8tor, ICONIQ, among 18 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Founders on Fire with Ven Raju, CEO of Innovation Works

Tech Trailblazers Startup Podcast · Ven Raju

Images

Innovation Works photoInnovation Works photoInnovation Works photoInnovation Works photo

Co-investors · 21

Bessemer Venture Partners

Bessemer Venture Partners is a global venture capital firm that partners with entrepreneurs across enterprise, consumer, and healthcare sectors from early stages through growth.

Both backed · 1
$5M – $100M
Riverfront Ventures, LLC

Riverfront Ventures is an early-stage venture capital fund based in Pittsburgh that invests in early-growth stage technology companies, serving as the venture capital arm of Innovation Works.

Both backed · 1
$250K – $1M
Volition Capital

Volition Capital is a Boston-based growth equity firm that invests in founder-owned, high-growth software, technology, and consumer companies, providing minority growth capital to help scale enduring businesses.

Both backed · 1
$10M – $100M
Allos Ventures

Allos Ventures is a Midwest-focused venture capital firm that invests in early-stage B2B software and tech-enabled services companies, drawing on decades of experience to take a hands-on approach.

Both backed · 1
$1M – $6M
3 Points Rising Ventures

3 Points Rising is an advisory and investment firm that uses proprietary business analytics developed from 40+ years of experience to help growth-stage companies identify blind spots, derisk operations, and optimize for long-term success.

Both backed · 1
Crosslink Capital

Crosslink Capital is a San Francisco-based venture capital firm investing in enterprise and consumer technology startups across North America.

$1M – $9M
Pareto Holdings

Pareto Holdings is an early-stage investment and company-building firm headquartered in the United States that operates globally. It has never raised outside capital and is self-funded by design.

$100K – $5M
TSVC

TSV Capital (TSVC), formerly TEEC Angel Fund, is a Silicon Valley seed-stage venture firm that backs technical founders at the earliest stages, having invested in over 200 early-stage companies.

$1M
Scribble Ventures

Scribble Ventures is an early-stage venture firm run by product and go-to-market leaders from OpenAI, Meta, Twitter, and a16z, backing AI native founders at the pre-seed and seed stages.

$750K – $1.5M
Amazon Alexa Fund

Amazon Web Services (AWS) is Amazon's Seattle-based cloud computing division, offering more than 240 cloud and AI services to customers ranging from startups to large enterprises. Its infrastructure spans over 120 availability zones across dozens of geographic regions worldwide. It is a technology provider rather than an investment firm.

Pfizer Venture Investments

Pfizer Venture Investments is a strategic venture fund that doesn't require product or technology rights as a condition of investing, giving founders independence while still aiming for future collaboration with Pfizer, and its team blends venture investing with business development and drug discovery expertise to back frontier scientific bets—such as neuroscience, in-vivo cell engineering, dark-genome target discovery, and the blockchain-based longevity accelerator VitaDAO—that many biotech investors avoid. The fund also runs an active China strategy through a locally based venture vehicle and direct investments like OTR Therapeutics, and it has become a channel for strategic deals, with portfolio companies acquired by AbbVie, Ipsen, and Gilead/Kite.

$5M – $20M
Anzu Partners

Anzu Partners is an investment firm backing breakthrough clean tech, industrial, and life science technologies, working alongside founders through a team of investors, operators, scientists, and engineers.

9 more co-investors

LvlUp VenturesOsney CapitalAvoro Capital AdvisorsQuake CapitalMonozukuri VenturesSeaX VenturesGreat North VenturesRincon Venture PartnersDraper Triangle

Firms observed investing alongside Innovation Works, from public investor directories. Shared companies are the overlap with Innovation Works's recorded portfolio.

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