Bench is a fintech company that automates accounting tasks to organize the financials of small businesses. The Company is the online bookkeeping service providing small businesses, independent contractors and entrepreneurs with professional bookkeeping services, allowing to monitor business’s financial health, download financial statements and chat with the bookkeeping team any time via the Bench app. 

Type
Private
HQ
London, GB
Founded
2012
Size (employees)
200 (est)
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
Trevor Orsztynowicz

Trevor Orsztynowicz

VP, Engineering
Emily Key

Emily Key

Director, Operations
Lindsay Rutledge

Lindsay Rutledge

VP, Product & Strategy
Mike Daley

Mike Daley

VP, Sales & Operations
Owen Mead-Robins

Owen Mead-Robins

Director, Engineering
Rehan Mohammad

Rehan Mohammad

VP, Finance
Scott Edison

Scott Edison

VP, Business Development
Dave Shea

Dave Shea

Director, Product Design

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

$32.9 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 $32.9 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.
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
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)
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

Total Liabilities

24.8 m30.5 m41.5 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
GBPFY, 2014FY, 2015FY, 2016

Income Taxes Paid

(720 k)(908 k)(167 k)
Y, 2016

Financial Leverage

8.1 x

Bench Online and Social Media Presence

Bench News and Updates

Bench Company Life and Culture

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