Bench, a Vancouver, Canada-based provider of a bookkeeping service for small businesses and independent professionals, raised $18m in Series B-1 funding.
The round was led by iNovia Capital with participation from existing investors Bain Capital Ventures, Altos Ventures, and Silicon Valley Bank. In conjunction with the funding, Shawn Abbott, Partner at iNovia Capital, joined Bench’s Board.
The company intends to use the funds to accelerate development of its human-powered automation platform, grow the team and expand the service.
Led by Ian Crosby, Co-Founder and CEO, Bench pairs a live bookkeeping team with a proprietary automation platform to organize the financials of small businesses, independent contractors, and entrepreneurs.
The company, which has raised $53m to date, services thousands of business owners across the country and currently employs over 250 people out of its North American headquarters.