Canadian Startup Bench Accounting Raises $1 Million from VCs and Angels

Virtual bookkeeping service Bench Accounting has raised a round of funding.

The Vancouver-based startup, which combined human bookkeepers with web-based app, has raised $1 million.

The round was funded by Contour Ventures, Alpine Meridian, Lerer Ventures, Quotidian Ventures, as well as a team of unnamed angel investors.

According to the Canadian company, it has seen 30% month-over-month growth since launching and has processed more than $160 million in bookkeeping transactions across North America.

Bench launched in July 2013 after being a part of the Spring 2012 Techstars cohort, at which time it was known as 10Sheet.

Cofounder Jordan Menashy says Bench is about the idea that people shouldn't have to deal with bookkeeping; that it shouldn't be a distraction for small business owners. Typical clients are employers with teams of fewer than 10 and revenue below $2.5 million.

Bench Accounting
Vancouver, British Columbia, Canada

Bench is the virtual bookkeeping service that combines smart software with North American, web-based bookkeepers. Founded by Ian Crosby and Jordan Menashy, Bench launched out of TechStars New York in 2012 and is based out of Vancouver. more

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