Vista Equity Partners and Warburg Pincus invests $350m Investment in Assent

Jan 6, 2022 | News

Assent Compliance, a leader in supply chain sustainability management, announced today that it has raised $350m in funding led by Vista Equity Partners, the leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. This is one of the largest raises in Canadian software company history and establishes Assent in unicorn status, valued at more than $1bn.

The fundraise follows a year of tremendous growth for Assent, which has expanded its global workforce by 35% and annual recurring revenue (ARR) by more than 50% over the past 12 months. Assent delivers enterprise-wide supply chain sustainability solutions across product compliance, trade compliance and ESG. Exclusively focused on complex manufacturing, Assent has the industry’s largest network of supplier intelligence. The company’s SaaS platform, regulatory subject matter experts, and professional services team continuously deep-map supply chains down to every part of every product. Assent helps complex manufacturers proactively identify and manage risk, accelerate market access and growth, and promote brand reputation.

“The increasing complexity and scale of regulations and varying requirements globally, combined with a heightened focus on ESG, presents challenges for companies across industries, particularly for manufacturers,” said Andrew Waitman, CEO of Assent. “Assent enables deep insight and rapid transparency to help ensure products are made with environmental and human rights standards necessary to compete — and win — in markets of the future.”

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The funding will enable Assent to advance its distinct industry-leading SaaS platform, particularly supporting sustainability/ESG capabilities, grow its global footprint through expansion plans in Europe, and expand its team by 40%, hiring for key roles in sales, services, engineering, customer success and marketing.

“We’ve always been committed to providing a solution that helps manufacturers make smart decisions regarding who they do business with and how their products are sourced. This funding, and our partnership with Vista and Warburg Pincus, allows us to build upon that commitment, scale with purpose and add exceptional talent to our already remarkable team. People want to do work that makes a meaningful impact on the world, and they want to do this purpose-driven work at a company that has an inclusive, exceptional culture. Assent embodies those values,” continued Waitman.

Vista’s Foundation Fund, which invests in m

Source: PR Newswire

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