About Bench
Bench is a company based in Vancouver (Canada) founded in 2012 by Jordan Menashy. It operates as a SaaS (Software-as-a-Service), and Subscription Services. Bench has raised $114.97 million across 9 funding rounds from investors including Shopify, Sage Group and SVB. Bench offers products and services including Monthly Bookkeeping, Catch Up Bookkeeping, Income Tax Filing and Advisory, and Tax Resolution. Bench operates in a competitive market with competitors including Intuit, Visma, Xero, Wave and FreshBooks, among others.
- Headquarter Vancouver, Canada
- Founders Jordan Menashy
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Sectors
Technology
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Phone
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Website
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Social
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Products & Services of Bench
Bench offers a comprehensive portfolio of products and services, including Monthly Bookkeeping, Catch Up Bookkeeping, Income Tax Filing and Advisory, and Tax Resolution. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Ongoing bookkeeping is provided for small business owners.
Catch-up bookkeeping is offered for delayed small businesses.
Tax preparation and advisory are provided for businesses.
Expert support is given for resolving IRS issues.
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Funding Insights of Bench
Bench has successfully raised a total of $114.97M across 9 strategic funding rounds. The most recent funding activity was a Series C round of $60 million completed in June 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 9
- Last Round Series C — $60.0M
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First Round
First Round
(01 Jun 2012)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2021 | Amount | Series C - Bench | Valuation | Contour Venture Partners | |
| Jan, 2018 | Amount | Series B - Bench | Valuation | Inovia Capital | |
| May, 2016 | Amount | Series B - Bench | Valuation | Bain Capital Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Bench
Bench has secured backing from 14 investors, including venture fund and institutional investors. Prominent investors backing the company include Shopify, Sage Group and SVB. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments are made in US seed and early-stage tech companies.
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Founded Year | Domain | Location | |
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Early-stage companies are funded by this venture capital firm.
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Founded Year | Domain | Location | |
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Investments are made in early-stage technology companies by Inovia Capital.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Bench
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Bench
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Bench Comparisons
Competitors of Bench
Bench operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Intuit, Visma, Xero, Wave and FreshBooks, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Financial and accounting software is developed for businesses and individuals.
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| domain | founded_year | HQ Location |
Cloud-based ERP software is provided for business management across segments.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payment management is offered for small businesses.
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| domain | founded_year | HQ Location |
Web-based accounting software is offered for business use.
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| domain | founded_year | HQ Location |
Cloud-based invoicing and accounting software is offered for businesses.
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| domain | founded_year | HQ Location |
Cloud-based accounting software is provided for small businesses and freelancers.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Bench
Frequently Asked Questions about Bench
When was Bench founded?
Bench was founded in 2012.
Where is Bench located?
Bench is headquartered in Vancouver, Canada. It is registered at Vancouver, British Columbia, Canada.
Is Bench a funded company?
Bench is a funded company, having raised a total of $114.97M across 9 funding rounds to date. The company's 1st funding round was a Series B of $20M, raised on Jun 01, 2012.
What does Bench do?
Bench is engaged in delivering online bookkeeping and tax filing solutions tailored for small business owners. Services are provided through a combination of intuitive software and dedicated human support, automating repetitive tasks and ensuring accurate financial management. The company operates in the financial technology sector, focusing on accounting and tax preparation. Comprehensive support is offered, including monthly bookkeeping, catch-up bookkeeping, income tax filing, advisory services, and tax resolution for IRS issues. Real-time financial reporting and insights are made accessible to help businesses make informed decisions and stay on budget.
What products or services does Bench offer?
Bench offers Monthly Bookkeeping, Catch Up Bookkeeping, Income Tax Filing and Advisory, and Tax Resolution.
Who are Bench's investors?
Bench has 14 investors. Key investors include Shopify, Sage Group, SVB, Lerer Hippeau, and Techstars.