Vancouver-based Bench raises millions from U.S. venture capital firms

One of the darlings of Vancouver's high-tech world is poised to double its workforce of designers and software engineers.

Bench has anounced that it raised US$16 million from Bain Capital Ventures, Altos Ventures, and Contour Venture Partners. That works out to more than CDN$20 million.

"This capital allows us to remove any constraints to ensuring our culture and environments can fluorish as we undergo this rapid employee growth," Bench CEO Ian Crosby said in a news release.

The company has already grown to 230 employees in its four-year history.

Earlier this year, Crosby made the Forbes 30 under 30 list for spearheading the development of online bookkeeping and accounting services that appeal to younger owners of small businesses.

At that time, the Straight's caption under his photo stated: "After making a Forbes list, Bench CEO Ian Crosby might find it a little easier raising money."

The lead financier, Bain Capital Ventures, was established in 2000 by Bain Capital. The parent firm was founded 16 years earlier by former Republican presidential candidate Mitt Romney, who is no longer connected to the company.

Today's new release revealed that Bain Capital Ventures partner Indy Guha has joined the board of Bench.

"Bench is capturing the attention of people who grew up with the Internet and who seek conventional cloud and mobile solutions to eliminate unwanted tasks," Guha said. "BCV was impressed with the level of scalability Bench has achieved and is excited by the chance to back an important new SMB platform."