Bench is the online bookkeeping service that pairs you with a dedicated bookkeeping team and simple, elegant software to do your books for you. Let us handle your bookkeeping, and you’ll have more time to focus on the other important parts of your business.
Company Growth (employees)
Type
Private
HQ
London, GB
Founded
2012
Size (employees)
201 (est)-3%
Website
bench.co
Bench was founded in 2012 and is headquartered in London, GB

Key People at Bench

Ian Crosby

Ian Crosby

Co-Founder and CEO
Pavel Rodionov

Pavel Rodionov

CTO
Jordan Menashy

Jordan Menashy

VP of Marketing

Bench Office Locations

Bench has offices in London, New York and North Vancouver
North Vancouver, CA
Vancouver, Bc
New York, US
900 Broadway

Bench Data and Metrics

Summary Metrics

Founding Date

2012

Total Funding

$32.1 m

Latest funding size

$16 m

Time since last funding

about 1 year

Investors

Bench's latest funding round in May 2016 was reported to be $16 m. In total, Bench has raised $32.1 m

Bench Financial Metrics

Bench's revenue was reported to be £45.7 m in FY, 2016 which is a 34% decrease from the previous period.
Numbers are in £, GBP

Revenue (FY, 2016)

45.7 m

Revenue growth (FY, 2015 - FY, 2016), %

(34%)

Gross profit (FY, 2016)

19.2 m

Gross profit margin (FY, 2016), %

42%

Net income (FY, 2016)

(2.5 m)

Cash (25-Jun-2016)

5 m
Numbers are in £, GBPFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

103.5 m92 m69.6 m45.7 m

Revenue growth, %

(11%)(24%)(34%)

Cost of goods sold

51.3 m47.7 m35.4 m26.5 m

Gross profit

52.2 m44.3 m34.2 m19.2 m

Gross profit Margin, %

50%48%49%42%

Operating expense total

39 m39.7 m39.2 m21 m

Pre tax profit

4.7 m(3.8 m)(2.3 m)

Net Income

3.9 m(4.7 m)(2.5 m)
Numbers are in £, GBPFY, 2014FY, 2015FY, 2016

Cash

5.8 m8.6 m5 m

Accounts Receivable

3.1 m886 k1.2 m

Current Assets

30.3 m31.7 m40.6 m

PP&E

2.3 m2.2 m2.4 m

Goodwill

5.5 m4.9 m4.3 m

Total Assets

38.2 m38.9 m47.3 m

Accounts Payable

11.2 m11.1 m10.2 m

Current Liabilities

23.2 m29.6 m24.5 m

Retained Earnings

3.9 m(4.7 m)(2.5 m)

Total Equity

13.3 m8.4 m5.9 m

Financial Leverage

2.9 x4.7 x8.1 x
Numbers are in £, GBPFY, 2014FY, 2015FY, 2016

Income Taxes Paid

(720 k)(908 k)(167 k)
Numbers are in £, GBPY, 2016

Revenue/Employee

264.9 k

Financial Leverage

8.1 x

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