Bench Customers Face Data Dilemma After Acquisition by Employer.com
The Controversial Transition of Customer Data Access
Following the abrupt shutdown of accounting startup Bench on December 27, 2024, and its subsequent fire-sale acquisition by Employer.com, customers are encountering significant hurdles in accessing their financial data. Multiple clients have expressed frustration to TechCrunch about what they describe as coercive data access policies.
Key Developments:
- Sudden Shutdown: Bench, a Canadian startup that raised $113 million from investors including Bain Capital Ventures and Shopify, ceased operations without warning
- Last-Minute Acquisition: Employer.com, an HR tech company specializing in payroll and onboarding, purchased Bench’s assets days later
- Data Access Concerns: Customers report being forced to consent to new terms to retrieve their financial records
Understanding the Employer.com Connection
Employer.com presents an interesting corporate profile:
- Operates as a DBA for Recruiting.com Ventures (established 2015)
- CEO Jesse Tinsley acquired the domain in November 2024 for $450,000
- Company claims profitability and experience in acquiring businesses
However, the lack of accounting expertise at Employer.com has raised red flags for former Bench customers accustomed to specialized financial services.
Customer Complaints Surface
Multiple Bench clients report troubling experiences when attempting to access their data:
Consent Requirement Controversy
- Initial consent forms included language waiving refund rights (later removed)
- Customers must agree to Employer.com’s terms to download their own data
- Some report being automatically enrolled in continued services after consent
Real Customer Experiences
Longtime User (10 years):
- Chose to discontinue service but was later required to accept terms for data access
- Expressed concern about Employer.com’s unfamiliarity with accounting services
Business Advisor Michelle Gayle:
- Criticized the updated consent page for obscuring options
- Called Employer.com’s privacy policy “laughable” for financial data protection
- Reported bounced emails when attempting to contact legal department
Anonymous Customer:
- Successfully obtained credit card refund for prepaid services
- Expressed disappointment after previously recommending Bench to clients
Employer.com’s Response
CMO Matt Charney provided these key points:
- Data Access: Consent is required to authorize Employer.com to make data available
- Options After Consent: Customers can download, delete, or continue services
- Refund Policy: Advises contacting Bench’s bankruptcy trustee or Stripe for refunds
Charney later clarified: “The only way customers can access their data is by opting into Employer.com’s system, as Bench no longer exists and is in bankruptcy proceedings.”
Community Backlash
The situation has sparked significant discussion on platforms like Reddit, where former Bench customers share similar frustrations about data access and service transition policies.
What This Means for Small Businesses
This situation highlights critical considerations for businesses relying on fintech services:
- Importance of understanding data portability policies
- Need for clear contingency plans when service providers change ownership
- Value of regularly backing up critical financial data independently
As the situation develops, affected businesses are advised to carefully review all consent forms and consider consulting legal counsel regarding their data rights.
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