What is Bench?
Founded in 2013 and headquartered in Vancouver, British Columbia, Canada, Bench Accounting Inc. offers an all-in-one financial toolkit designed to streamline bookkeeping and tax filing for businesses. The company provides a robust platform that integrates essential financial management functions, enabling entrepreneurs and business owners to focus on core operations. Bench's commitment to simplifying financial administration positions it as a key player in the fintech sector, catering to the evolving needs of modern enterprises.
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 Lerer Ventures, Quotidian Ventures, Primary Venture Partners, and Contour Venture Partners
Unspecified (2014): $1M led by Notion, Hedgewood, Lerer Hippeau Ventures, Quotidian Ventures, Alpine Meridian Ventures, and Contour Venture Partners
Series A (2015): $7M supported by Quotidian Ventures, Alpine Meridian Ventures, Contour Venture Partners, Altos Ventures, Notion, Hedgewood, and Lerer Hippeau Ventures
Private Equity (2015): $6.1M, investors not publicly disclosed
Series B (2018): $18M backed by Inovia, Altos Ventures, Silicon Valley Bank, and Bain Capital Ventures
Series C (2021): $60M with participation from BMO T&I, Shopify, Sage, Altos Ventures, Inovia, and Contour Venture Partners
Key Investors in Bench
Inovia
iNovia Capital is a full-stack venture firm that partners with founders to build enduring global technology companies. They focus on investing in people first to transform the venture capital landscape.
Altos Ventures
Altos Ventures is a Silicon Valley-based venture capital firm investing in early to growth-stage technology companies across consumer and enterprise sectors. They are known for being a long-term, first institutional investor.
Bain Capital Ventures
Bain Capital Ventures is a venture capital firm focused on investing in innovative companies. They provide capital and strategic support to help businesses achieve significant growth and market leadership.
What's next for Bench?
The recent major strategic investment in Bench signals a strong vote of confidence from its backers, likely positioning the company for accelerated scaling and product development. This infusion of capital is expected to fuel expansion into new markets, enhance its technological infrastructure, and potentially broaden its service offerings. As Bench continues its trajectory, it is poised to further solidify its role as a leader in providing integrated financial management solutions for businesses seeking efficiency and robust financial oversight.
See full Bench company page
