Assent Compliance Announces $40 Million Funding Round

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Assent Compliance has announced that they have raised $40 million in a Series B round of funding. They are an Ottawa-based company providing enterprise compliance software as a service (SaaS) and data management solutions.

This new investment is spearheaded by Greenspring Associates with participation from a few current investors including Volition Capital, OpenText Enterprise Application Fund (OTEAF) and the Royal Bank of Canada, along with a few private investors.

Assent Compliance prides themselves on providing a comprehensive supply chain data collection platform for organizations to collect vendor management, ethical sourcing and product compliance data.

“Assent Compliance is a company on the verge of doing some very big things,” said John Avirett of Greenspring Associates. “Their roots are embedded in strong leadership and positive corporate culture, they have a market-leading product and boast an impressive track record of success.”

This new round of funding will help enable Assent Compliance to put more into its platform, including applications for a host of different features including inspections and audits, a robust campaign manager and even an embedded learning management system.

On top of this, Assent plans to hire more employees in all of their divisions, with a focus in R&D and product management. In total, the new growth may account for 100 new hires over the next year and a half.

“These are the best times to be rapidly growing a global SaaS company,” said Andrew Waitman, CEO of Assent Compliance. “We continue to scale and gain critical mass to further our partnerships with the world’s best companies.”

Assent helps clients bring the best practices into their compliance programs and provide them the tools they need to survey supply chains efficiently. The company even provides training materials for clients to remain ahead of regulatory curves through an internally-developed learning management systems.

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