Overview

• Bench Accounting, a Vancouver-based bookkeeping startup, announced its sudden closure on December 27, leaving customers locked out of accounts and employees laid off.
• Employer.com, a San Francisco-based HR tech company, has acquired Bench in a last-minute deal to ensure continuity for its customers and employees.
• Bench customers will have the option to retain their services under new ownership or transfer their data, with Employer.com promising a seamless transition.
• The acquisition comes after Bench, which raised over $100 million in funding and employed over 600 people, faced backlash for its abrupt shutdown during a critical time for tax preparation.
• Employer.com, which recently consolidated its HR-related brands, is working to reinstate Bench employees and maintain the platform's bookkeeping services.