Assent Compliance’s capital growth round is over, and the result is $20 million in funding to continue the company’s drive for innovation and excellence in the supply chain data management space.
The investment is led by Boston-based Volition Capital with participation from OpenText Enterprise Application Fund (OTEAF), Business Development Bank of Canada (BDC), Industrial Research Assistance Program (IRAP), Royal Bank of Canada (RBC) and private investors.
The company’s founders, with their boxing background, have inspired Assent Compliance’s championship culture which has led them to the top as the number one compliance platform solution in the marketplace. This culture is symbolized by a regulation-sized boxing ring in the middle of the office used for company meetings, scrums and the odd sparring match.
This funding will enable Assent Compliance to continue to invest in its platform and increase the number of team members across all divisions, particularly in Research and Development and Product Management. With a current headcount of 165, this growth will involve an additional 100 new hires over the coming 12-18 months.
“We evaluate a lot of technology companies in a wide variety of industries,” said Sean Cantwell of Volition Capital. “Once in a while we come across an opportunity like Assent Compliance where we see a great leadership team, a sizable unmet market need, a track record of success and a leading product solution. We are excited to be partnering with the Assent team to help build a meaningful and sizable business that continues to address the many compliance needs of its customers.”
Assent currently works with over 30 percent of S&P 500 product companies and a network of over 300,000 supplier companies globally to ensure compliance with these regulations. Assent Compliance helps clients incorporate best practices into their compliance programs and provides them with the tools to collect data from throughout their supply chains efficiently, without incurring extravagant costs. Assent Compliance also provides educational materials for companies and suppliers to stay ahead of the regulatory curve through an internally-developed, integrated learning management system.
In the midst of an evolving global regulatory landscape, companies turn to Assent Compliance to fulfill an integral role in the compliance process.
Click here to learn why the Assent Compliance Platform is the #1 compliance software platform on the market.