Bench, the Canadian SaaS provider for small and medium-sized business accounting, unexpectedly ceased operations on December 27, 2024, leaving over 35,000 U.S. customers without access to their bookkeeping and tax documents.

A notice on Bench’s now mostly offline website informed users of the shutdown and urged them to download their data by December 30, with access available until March 2025. The company advised customers to file a six-month IRS extension to find alternative bookkeeping support.

Bench’s sudden closure surprised many, including former users who still had years of financial records stored on the platform. The startup, which raised $113 million from investors including Shopify and Bain Capital Ventures, was known for simplifying tax reporting and bookkeeping for growing businesses.

Social media reactions reflected frustration, with some customers upset after recently switching from competitors like QuickBooks.

The shutdown notice recommended migration to Kick, a new accounting startup that raised $9 million in October 2024 from OpenAI and General Catalyst. Kick’s CEO Conrad Wadowski expressed readiness to assist former Bench clients.

Bench was founded in 2012 and last raised $60 million in 2021. Its former CEO Ian Crosby, who left post-Series C, lamented the shutdown on LinkedIn, criticizing the board’s decision to replace him and warning about founder replacement risks.

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