News Summary

Bench, a VC-backed accounting startup based in Vancouver, B.C., faced an unexpected shutdown, leaving thousands of customers without access to their accounts. The company has been acquired by Employer.com, a San Francisco-based HR tech firm, for an undisclosed amount. Employer.com plans to revive Bench’s platform, allowing customers to access their data and choose whether to continue with the service under new ownership. This acquisition aims to maintain the quality of service Bench provided while leveraging Employer.com’s resources for future enhancements. Bench had over 35,000 small business clients and employed more than 600 people, some of whom are being called back to ensure service continuity. Employer.com, led by CEO Jesse Tinsley, is self-funded and focuses on payroll and onboarding services.