Bench Snapped Up by Employer.com Following Shutdown

Deal News | Jan 02, 2025 | Aim Group

San Francisco-based Employer.com has acquired Bench, a small-business bookkeeping service that recently shuttered. While financial terms weren't disclosed, this transaction marks an effort by Employer.com to revive Bench's services and reconnect with its past clientele. Bench had previously raised $113 million before ceasing operations on December 27, leaving both its customers and employees in a lurch. CEO Jesse Tinsley noted the hiring of former Bench staff and committed to delivering superior services under their new management. The announcement was made via LinkedIn, signaling an integrated approach to business expansion and customer engagement. Concurrently, Jennifer Bouyoukos, the former Chief People Officer at Bench, has been tasked with reaching out to ex-employees to reinstate operations.

Sectors

  • Accounting
  • Technology

Geography

  • United States – Employer.com is based in San Francisco, indicating the geographic focus is the United States.

Industry

  • Accounting – The article involves Bench, which provided bookkeeping services, making accounting a relevant industry.
  • Technology – Employer.com and Bench both operate within the technology sector, particularly in financial technology services, aligning with digital transformation in accounting.

Financials

  • $113 million – Total funding raised by Bench before it ceased operations.

Participants

NameRoleTypeDescription
Employer.comBidding CompanyCompanyA San Francisco-based company providing accounting, payroll, recruitment, and media services.
BenchTarget CompanyCompanyA small-business bookkeeping service that recently halted operations.
Jesse TinsleyCEOPersonCEO of Employer.com, announced the acquisition on LinkedIn.
Jennifer BouyoukosFormer Chief People OfficerPersonFormer Chief People Officer at Bench, involved in calling back former employees to resume operations.