Bench combines intuitive software with a dedicated accounting team to deliver full‑service bookkeeping, tax preparation and advisory for small business customers. The company has relaunched its product to offer an integrated suite — banking, cards, payroll, bookkeeping, taxes and advice — that surfaces real‑time profitability and cash‑flow in the customer’s accounting and tax filings. Bench Core includes a business bank account and debit card in partnership with LendingClub and Stripe, while Bench Flex supports customers with existing banks; Core is priced at $249/month and Flex at $349/month. Bench says the product and integrations (Shopify, Stripe, Freshbooks, Sage, LendingClub, Gusto) aim to centralize and simplify financial operations for entrepreneurs. The company reports it services over 11,000 business owners, employs roughly 650 people, and plans to double its product and technology teams before the end of 2021. Bench positions its roadmap around reaching one million business owners and continuing to reinforce its product and service vision. Bench provides bookkeeping and basic accounting services for SMBs by combining machine learning automation with human bookkeepers. Users connect bank accounts and corporate cards so Bench can track transactions and handle bookkeeping tasks. The company automates roughly 60% of bookkeepers' tasks and has processed about $19 billion in client expenses. Bench offers tiered pricing by transaction volume and has cut prices 10–30% over the last year. The team exceeds 250 employees, including 150 bookkeepers. CEO Ian Crosby says the company will push further on automation to improve service and lower prices. Bench is a Vancouver-based online bookkeeping service that automates accounting tasks for small businesses and independent contractors. It combines software with a live bookkeeping team to deliver monthly bookkeeping for a fee. The service automates accounting tasks and provides customers with a managed bookkeeping offering. The company currently services thousands of business owners and employs 230 people. Bench has raised $33m to date and recently closed a $16m Series B. The company plans to use the funds for product enhancements and the rollout of a new product. Bench (formerly 10sheet) combines software that imports transactions from corporate cards and checking accounts with a one-on-one bookkeeping service that assigns each customer a dedicated Bench accountant. After graduating TechStars the company rebranded and emphasized the human piece of the workflow, adding features such as in-app messaging between customers and their accountants. The startup uses only its own accountants rather than third-party contractors and currently employs 126 people, many of whom are accountants. Bench has been focused on improving the product to deepen the one-on-one relationship and on building a recruitment engine to hire and retain talent. The company is using new funding to make additional hires and to improve its office and onboarding systems. Bench Accounting provides a virtual bookkeeping service that pairs personal (human) bookkeepers with a web-based app to let small business owners collaborate, send documents and view reports. Its professional bookkeepers are recruited across North America and are available to clients via phone, email and the web app. The company was founded in 2012 by Ian Crosby and Jordan Menashy and launched out of TechStars New York. Bench is based in Vancouver and New York City. Financially, the company closed $1M in funding that it says will be used for continued growth among small businesses; this financing is in addition to $2.1M in seed funding raised the previous summer. Bench is hiring to support its expansion plans.

Total raised

$104M

Funding rounds

6

Latest round

Series C

Latest activity

Jun 2021