Vancouver-based Bench, a venture-funded accounting startup, has been acquired by San Francisco’s Employer.com in a deal aimed at reviving the platform and addressing the fallout from Bench’s abrupt shutdown last week.
Bench, which reportedly served 12,000 customers, left small business owners locked out of their accounts just as tax season loomed. Employer.com, an HR tech firm specializing in payroll and onboarding, plans to relaunch the platform shortly.
Customers will be given options to continue services under new ownership or port their data to alternative providers, per Employer.com’s Chief Marketing Officer Matt Charney.
In a statement to TechCrunch, Employer.com assured customers they would work with the same in-house bookkeepers they had come to trust. However, the transition might not be seamless; Bench had over 600 employees, many of whom were affected by the shutdown. Employer.com is now recalling some staff to restore operations, according to Bench’s Chief People Officer, Jennifer Bouyoukos.
Employer.com CEO Jesse Tinsley, who recently acquired the Employer.com domain for $450,000, has been expanding his portfolio of HR-related businesses, including Recruiter.com and BountyJobs. Employer.com’s acquisition of Bench is self-funded and part of its broader strategy to grow in the HR space.
Bench’s website remains offline, displaying a placeholder message about continued services. For customers scrambling to meet tax deadlines, the acquisition offers relief: filing extensions with the IRS, once recommended by Bench, may no longer be necessary for those who choose to stay.
As the dust settles, Employer.com’s success in reviving Bench’s operations will determine whether the startup’s customers can resume their accounting services uninterrupted or face additional hurdles.