Unlikely Turnaround: Startup Bench Acquired by HR Tech Company After Abrupt Shutdown

Bench to be Acquired, After Abrupt Shutdown

In a surprising turn of events, accounting startup Bench will be acquired by HR tech company Employer.com just days after it abruptly shut down, leaving thousands of small business owners without access to their crucial financial information.

As reported by TechCrunch, the acquisition is expected to revive the platform and ensure continuity for Bench’s customers. According to a statement from Employer.com, users can expect to continue working with the same expert in-house bookkeepers they know and trust, while also gaining access to new capabilities powered by Employer.com’s resources.

However, the decision to acquire Bench may not be as straightforward as it seems, given that the company employed over 600 people before its shutdown. It is unclear at this time how many employees will be retained or what impact the acquisition will have on their employment status.

The sudden shutdown of Bench caused widespread chaos and frustration among its customers, who are now in a state of limbo with regards to accessing their critical financial information. This comes as tax season approaches, making it even more crucial for users to have access to their financial records.

Employer.com’s acquisition is expected to address these concerns by reviving the platform and providing instructions for customers to log back into their accounts and retrieve their data. Customers will also be given the choice to either port over their existing data or continue service with Employer.com.

The acquisition comes just one week after Bench abruptly shut down, leaving thousands of small business owners without access to their financial records.

Source: techcrunch.com