Assent Compliance, a provider of supply chain data management software, has received over $100m (CAD$130m) in funding.
The investment, which came from private equity firm Warburg Pincus, will enable the RegTech to enhance its software and supply chain data management platform, while expanding its product compliance, vendor management and corporate social responsibility solutions.
It represents Assent’s third funding round in three years having raised CAD$20m in a Series A round in 2016 and CAD$40m in a Series B round in 2017.
Andrew Waitman, CEO of Assent Compliance, said: “Warburg’s enviable software domain experience complements our remarkable supply chain data management expertise and will help accelerate Assent’s rapid growth. Their thoughtful selection of Assent reinforces our market leadership and will enable us to continue to deliver innovative solutions that protect companies from third-party risks within their supply chains.”
Based in Ottawa, Canada, Assent provides cloud-based enterprise supply chain data management software and solutions – available through the Assent Compliance Platform – to help companies manage and reduce global third-party market access, reputational, financial and operational risks.
Its solutions automate supply chain data management to increase supply chain transparency and respond to the significant volume of data and regulatory requirements.
“Assent’s innovative technology offerings and unmatched regulatory expertise have supported the company’s rapid growth, and cemented its leadership position in the supply chain data management sector,” said Justin Sadrian, managing director, Warburg Pincus.
“The company has taken supply chain transparency to a new level and created a clear category-leading platform. In doing so, Assent has earned an outstanding reputation for providing world class solutions and client support – making Assent the partner of choice for enterprise and mid-market companies around the world. We look forward to working with Assent’s leadership team as the company embarks on its next chapter of growth.”
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