Assent Compliance, an Ottawa, ON, Canada-based SaaS and data company, raised C$40m in funding.
The round was led by Greenspring Associates with participation from Volition Capital, OpenText Enterprise Application Fund, Business Development Bank of Canada, National Research Council of Canada Industrial Research Assistance Program, Royal Bank of Canada, and private investors.
The company intends to use the funds to invest in its platform, to increase the number of employees across all divisions, particularly in R&D and Product Management.
Founded in 2005 and led by Andrew Waitman, CEO, Assent Compliance provides a comprehensive supply chain data collection platform for organizations to collect vendor management, ethical sourcing and product compliance data. The platform includes applications for inspection and audits, a contact and parts database, an embedded learning management system, a campaign manager, and a supplier data exchange portal.
The company currently works with over 40% of S&P 500 product companies and a network of over 300,000 supplier companies globally to ensure compliance with these regulations.
Assent Compliance has a headcount of 225 and plans to add 100 new hires over the coming 12-18 months.