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Bench to Be Acquired, After Abrupt Shut Down
In a surprising turn of events, TechCrunch has learned that accounting startup Bench will be acquired by Employer.com, just days after abruptly shutting down its services. The acquisition comes as a relief to the thousands of customers who were left locked out of their accounts following the sudden shutdown.
According to sources familiar with the matter, Employer.com, an HR tech company, has agreed to acquire Bench for an undisclosed sum. This move marks a significant turnaround from just days ago when Bench’s website displayed a notice indicating its service closure.
The acquisition is expected to see Employer.com revive Bench’s platform and provide instructions to customers on how to access their data in the near future. In addition, customers will have the option to port their data or continue using the service under new ownership.
Notably, the sudden shutdown of Bench’s services left thousands of small business owners and entrepreneurs without access to their critical accounting and tax documents, just as the tax season is set to begin. The company’s website had previously touted over 35,000 customers, although it remains unclear how many will ultimately decide to stay with Employer.com.
In a statement announcing the acquisition, Employer.com emphasized that Bench customers can expect to continue working with the same expert bookkeepers they have always received, along with access to future enhancements and capabilities powered by Employer.com’s extensive resources.
Source: techcrunch.com
