Vancouver tech company Bench gets $16 million investment

Dec 19 2017, 9:40 pm

Vancouver fintech company Bench has raised $16 million in its latest round of funding – and is looking to double its team of 230 people between now and next summer.

Bench, which provides online accounting services for small businesses, has now raised $33 million in capital since it was founded four years ago in downtown Vancouver.

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The new funding comes largely from Bain Capital Ventures in San Francisco, as well as Altos Ventures and Contour Venture Partners.

Indy Guha, partner at Bain Capital Ventures and new Bench board member, says he is excited about backing the company.

“Bench is capturing the attention of people who grew up with the internet and who seek convenient cloud and mobile solutions to eliminate unwanted tasks.”

Bench CEO and co-founder Ian Crosby said the new investment would allow the company to enhance its products – and its workforce.

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“This capital allows us to remove any constraints to ensuring our culture and environments can flourish as we undergo this rapid employee growth,” he said.