What is Bench?
Founded in 2013, Bench Accounting Inc. operates as an all-in-one financial platform designed to streamline the complexities of bookkeeping and tax filing for business owners. By providing a hybrid model that combines proprietary software with human expertise, the company addresses the critical pain points of financial management for growing businesses. Its market position is defined by its ability to offer scalable, high-touch financial services that allow entrepreneurs to focus on core business operations rather than administrative compliance. The firm's platform has become a staple for businesses seeking to maintain accurate financial records while leveraging technology to reduce overhead costs.
How much funding has Bench raised?
Bench has raised a total of $94.1M across 6 funding rounds:
Angel/Seed
$2M
Unspecified
$1M
Series A
$7M
Private Equity
$6.1M
Series B
$18M
Series C
$60M
Angel/Seed (2013): $2M with participation from Quotidian Ventures, Lerer Ventures, Primary Venture Partners, and Contour Venture Partners
Unspecified (2014): $1M led by Notion, Alpine Meridian Ventures, Hedgewood, Contour Venture Partners, Lerer Hippeau Ventures, and Quotidian Ventures
Series A (2015): $7M supported by Quotidian Ventures, Hedgewood, Notion, Contour Venture Partners, Alpine Meridian Ventures, Altos Ventures, and Lerer Hippeau Ventures
Private Equity (2015): $6.1M, investors not publicly disclosed
Series B (2018): $18M backed by Silicon Valley Bank, Inovia, Bain Capital Ventures, and Altos Ventures
Series C (2021): $60M with participation from Altos Ventures, Inovia, BMO T&I, Shopify, Sage, and Contour Venture Partners
Key Investors in Bench
Altos Ventures
Altos Ventures is a Silicon Valley-based venture capital firm that invests in early to growth-stage technology companies in both consumer and enterprise sectors. Founded in 1996, the firm typically serves as the first institutional investor and supports portfolio companies over the long term.
Inovia
iNovia Capital is a full-stack venture firm that partners with founders to build enduring global technology companies, focusing on transforming venture capital by prioritizing human-centric investment strategies.
Contour Venture Partners
Contour Venture Partners is a seed-stage venture capital firm based in New York City that focuses on investing in innovative software solutions within the enterprise SaaS, vertical B2B SaaS, and financial services sectors.
What's next for Bench?
Looking ahead, the strategic deployment of the $60M is expected to accelerate Bench's product roadmap and market expansion efforts. As the company moves deeper into the enterprise segment, the focus will likely shift toward enhancing its automated intelligence capabilities and expanding its suite of financial integrations. With the backing of seasoned institutional partners, Bench is well-positioned to further disrupt the accounting industry, potentially exploring new vertical markets or deepening its existing service offerings to provide a more holistic financial ecosystem for its global client base.
See full Bench company page
