“The biggest challenge is my own inexperience, which is something I’m constantly trying to mitigate.”Ĭrosby hopes to use the funding to fuel growth and fund momentum of the company, with the goal of improving the automation side of the company even further and ultimately lower prices. ![]() Bench Accounting is a firm that automates accounting tasks to organize the. For Bench, addressed to Customer Care at: (i) Bench Accounting Inc. “I’m a first-time founder, and I’m having to learn how to be the CEO of the largest company I’ve ever run,” said Crosby. If you need a basic, no-frills bookkeeping company- Bench may be the right. Over the last year, the company has cut prices by 10 percent to 30 percent.īench currently has more than 250 employees, with 150 bookkeepers on staff.ĬEO Ian Crosby says his greatest challenge is his own inexperience. This allows Bench’s human accountants to focus on customer service and CRM.īench offers various tiers for customers, according to the size of the transactions. Since then, Bench has gone on to crunch $19 billion in expenses for its users, automating 60 percent of the tasks that its bookkeepers perform. In 2013, 10Sheet relaunched as Bench with $2 million in seed funding, refocusing the business to more deeply involve human accountants. Users simply integrated their corporate credit cards and bank accounts and let Bench do its thing, tracking transactions and expenses to handle basic accounting for a business. Back then, the company was called 10Sheet, and it aimed to providing accounting/bookkeeping services to small businesses through machine learning and an intuitive user interface. Existing investors, including Bain Capital Ventures, Altos Ventures, and Silicon Valley Bank, also participated in the round.īench first launched out of TechStars NYC in 2012. Cofounded by Forbes 30 Under 30 winner Ian Crosby, Bench has raised over $60 million and onboarded over 10,000 clients since its founding.Bench, the TechStars-backed bookkeeping service for SMBs, has today announced the close of an $18 million B-1 funding round led by iNovia Capital. Bench Accounting, or simply Bench, is self-described as the largest bookkeeping service in America, organizing the finances of small businesses, independent contractors, and entrepreneurs. At the same time, the company offers access to their team of real-life experts. Researched & Written by Jessica Howington on the FlexJobs Team. It does so by combining the efficiency and convenience of modern technology and intuitive software with the expertise and time-savings afforded by the real, human bookkeepers of a professional service. Since meeting with the company back in 2012, we kept finding ourselves impressed by their teams ability to distill bookkeeping into a system of equations and. Bench Retro provides a Year End Financial Package for each year of retroactive bookkeeping completedso you can get caught up, filed, and in the clear. Bench Accounting is known to be highly intuitive. A flexible employer, Bench has enabled remote and freelance capabilities in the past and, per eligibility, offers benefits and stock options.įounded with the belief that understanding finances should be simple, effortless, and affordable for entrepreneurs, Bench Accounting helps business owners spend more time doing what they love: running their business. The company has also preferred qualified professionals experienced in fields like accounting & finance, business development, consulting, computer & IT, and marketing. In search of new talent to join the team, Bench encourages applicants from marginalized communities and is committed to standing against racism and discrimination. Essential: 249 per month when billed annually (299 monthly) Premium: 399 per month when billed annually (499 monthly) The Premium plan fulfills your bookkeeping needs and also provides help with your taxes. Working in a culture of autonomy, radical responsibility, and innovation, this team relies on the following principles to inform how it communicates, shares information, and works toward its goal: keep it human, take a stand, be responsible, default open, and get scrappy. Launched in 2013, Bench today employs over 600 professionals passionate about helping entrepreneurs master their finances and improve their lives. With books up-to-date, users can access the Bench iPhone or desktop app to monitor cash-flow and financial health. Then, a dedicated team of bookkeepers ensures books are tax-ready. Each month, Bench automatically gathers transaction data from all connected business accounts. ![]() Researched & Written by Jessica Howington on the FlexJobs Teamīench Accounting, or simply Bench, is self-described as the largest bookkeeping service in America, organizing the finances of small businesses, independent contractors, and entrepreneurs. Bench is the online bookkeeping platform for small business owners.
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