Bench Customers Face Data Dilemma After Abrupt Shutdown and Acquisition

Bench Customers Face Data Dilemma After Abrupt Shutdown and Acquisition

The abrupt shutdown of Bench, a popular accounting startup that raised over $113 million from prominent investors like Bain Capital Ventures and Shopify, has left thousands of businesses in a precarious position. On December 27th, the company ceased operations, leaving customers scrambling to secure their critical financial data. Adding to the confusion, Bench was swiftly acquired by Employer.com, an HR tech company specializing in payroll and onboarding – a seemingly incongruous match for an accounting firm. This unexpected turn of events has sparked significant discontent among Bench customers, who are now facing a critical dilemma: hand over their valuable financial data to a new, untested entity or risk losing access to crucial records. Employer.com: A New Player in the Accounting Arena Employer.com, led by CEO Jesse Tinsley, is a relative newcomer to the accounting and finance space. While the company claims a history rooted in Recruiting.com Ventures, its primary focus has been on …