Employer.com, a provider of business and workforce management solutions, has acquired Canadian accounting startup Bench Accounting for an undisclosed sum.
Bench Accounting is dedicated to providing accounting services for small businesses.
The acquisition is part of Employer.com’s efforts to expand its service offerings for small business owners.
It comes in the wake of the sudden closure of Bench Accounting on December 27, 2024, leaving small and medium-sized businesses in need of reliable financial management solutions.
A notice on Bench’s website said: “We regret to inform you that as of December 27, 2024, the Bench platform will no longer be accessible.
“We know this news is abrupt and may cause disruption, so we are committed to helping Bench customers navigate the transition.”
Additionally, in its closure notice, the company recommended customers contact accounting software provider Kick for help with its accounting services.
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The acquisition by Employer.com is expected to provide continuity to Bench’s clientele.
Employer.com CEO Jesse Tinsley said: “While the challenges Bench recently faced were unexpected, we recognized an extraordinary opportunity to integrate its capabilities into our own set of solutions.
“By combining forces, we can create even more value for Bench’s loyal customers while expanding the reach and impact of Employer.com’s offerings.”
Bench, an accounting startup known for its software-as-a-service (SaaS) model, served the needs of small and medium-sized businesses before its abrupt closure. The company had raised $113 million in financing from investors before its closure.
Its acquisition paves the way for future advancements and capabilities supported by Employer.com’s resources.
