Assent Compliance Announces $130 Million Growth Equity Investment
Assent Compliance, a supply chain data management software provider, has received a $130 million CAD investment from global private equity firm Warburg Pincus.
Assent offers cloud-based software and services to help organizations manage their supply chain data through automation. The growth equity investment from Warburg Pincus will help Assent make improvements to their data management platform and expand their solutions offerings.
“We are thrilled to partner with Warburg Pincus – one of the leading growth equity firms in the world. Warburg’s enviable software domain experience complements our remarkable supply chain data management expertise and will help accelerate Assent’s rapid growth,” said Andrew Waitman, CEO of Assent Compliance. “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.”
Assent’s rapid growth over the past few years – and the reasons behind it – are what caught the attention of Warburg Pincus, which specializes in growth investing and has a global portfolio of over 170 companies.
“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 of Warburg Pincus. Sadrian and his colleague Sam Lipsick will join the Board of Directors for Asset Compliance.
“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,” said Sadrian. “We look forward to working with Assent’s leadership team as the company embarks on its next chapter of growth.”
This will be Assent’s third, and largest, funding round since 2016, having raised $20 million in Series A and $40 million in Series B.