Assent Acquisition, Valuation, Funding & Investors
Assent was acquired by Vista Equity Partners for $1.3B in March 2025, a 5.2x multiple on $250M of revenue.
Assent acquisition price
$1.3B
Acquired by Vista Equity Partners · Mar 2025
Assent revenue at acquisition
$250M
Last twelve months · Mar 2025
Assent revenue multiple at acquisition
5.2x
EV/Revenue · Mar 2025
Cumulative funding Assent raised
$534M
across 5 funding rounds
About Assent
Assent is a supply chain sustainability platform for manufacturers managing compliance, ESG, and risk across tiers. Ottawa-headquartered Assent automates parts declarations, supplier audits, and regulatory tracking for REACH, RoHS, and Prop 65. The platform serves electronics, medical device, and aerospace firms with AI-driven insights into 100 million suppliers.
Founded
2010
HQ
OttawaWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$50M (Jan 2022)
Valuation
$1B (Jan 2022)
Assent Acquisition
Assent was acquired by Vista Equity Partners for $1.3B on 1 March 2025.
The acquisition price implies a 5.2x revenue multiple on $250M of revenue.
Before the acquisition Assent had raised $534M across 5 funding rounds.
Assent Inc., an Ottawa-based provider of cloud-based supply chain sustainability software, helps nearly 1,000 global manufacturers including Honeywell, Boeing, General Electric, Johnson & Johnson, and Toshiba manage ESG compliance, vendor data, and ethical sourcing. The company achieved $100 million in annual recurring revenue by June 2024, with 44 straight quarters of growth expanding in the mid-teens percentage-wise. Vista Equity Partners, a leading software-focused private equity firm that first invested in December 2021 via a $350 million deal valuing Assent at $1 billion, increased its stake alongside Blackstone Inc., the world's largest alternative asset manager, by acquiring shares from Volition Capital, Warburg Pincus, First Ascent Ventures, and StepStone Group. The transaction, completed quietly in two phases with the final close in March 2025, involved approximately $400 million in cash for the minority stakes and valued Assent at $1.3 billion, slightly below its 2021 peak but resilient amid broader valuation declines. Assent maintains it has not been fully acquired and did not disclose post-deal ownership, though new board additions include three Vista directors and one from Blackstone, with prior Warburg Pincus representatives exiting. The deal coincided with a leadership transition in May 2025, appointing U.S.-based Michael Southworth as CEO to drive toward $250 million revenue, while founder Andrew Waitman became executive chairman; headquarters remain in Ottawa. Strategic rationale centers on Vista's confidence in Assent's growth amid rising regulatory demands for supply chain transparency, positioning it for accelerated expansion under deepened U.S. investor backing despite a sluggish 2025 sustainability software M&A market influenced by U.S. policy shifts.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 1 Mar 2025 | PE buyout | $1.3B | 5.2x |
Assent Valuation
Assent is currently valued at $1B, based on its Series D in January 2022.
The $350M round was led by Vista Equity Partners.
Assent valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2022 | Series D | $1B | 20.0x |
Assent Revenue
Assent's latest recorded revenue is $50M, as of its Series D in January 2022. At a $1B valuation, that implies a 20.0x revenue multiple.
Assent revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2022 | $50M | $1B | 20.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Assent Funding History
Assent has raised a total of $534M across 5 funding rounds.
Assent's first fundraising round was a $1M seed round in January 2014. The most recent completed round was a $350M Series D in January 2022.
Assent funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series D | Vista Equity Partners (lead) | $350M | $1B | Assent Compliance Inc., based in Ontario, Canada, is a leader in supply chain sustainability management software, providing enterprise-wide solutions for product compliance, trade compliance, and ESG across complex manufacturing industries. The company helps global industrial firms like Honeywell, Boeing, GE, Johnson & Johnson, and Toshiba track supply chain partners to meet regulatory and ethical standards via its cloud platform. Assent serves approximately 1,000 global customers and had expanded its workforce by 35% and annual recurring revenue by more than 50% in the year leading up to the funding announcement. On January 6, 2022, Assent announced a $350 million USD Series D funding round led by Vista Equity Partners' Foundation Fund, which targets middle-market companies for scaling. This investment, one of the largest in Canadian software history, valued Assent at more than $1 billion, achieving unicorn status. The round followed a $131 million Series C led by Warburg Pincus (largest shareholder at the time), with prior raises including $99.2 million Series C, $31.4 million Series B, $15.9 million Series A, and a small extension. Total funding raised reached $497 million. Vista's Patrick Severson and Jake Hodgman joined the board, while Volition Capital, First Ascent Ventures, and StepStone Group remained investors, and founders retained ownership. Proceeds were earmarked to scale the platform globally, expand ESG solutions, accelerate growth in supply chain sustainability, and establish market leadership amid rising demands for ethical sourcing from regulators, customers, and partners. Legal advisors included Stikeman Elliott and Kelly Santini for Assent, with E&Y as financial advisor to Vista, and Kirkland & Ellis plus McCarthy Tétrault for legal counsel to Vista. A later transaction in March 2023 saw Vista and Blackstone acquire shares from existing investors (including Warburg Pincus, Volition, First Ascent, StepStone) for about $400 million, valuing Assent at roughly $1.3 billion, with Vista increasing board representation. |
| Oct 2018 | Series C | Warburg Pincus (lead) | $131M | - | Assent Compliance is a Canadian supply cloud-based platform founded in 2005 that helps clients automate supply chain data management, increase transparency, and facilitate regulatory compliance in global markets. The company's platform enables clients to collect data to identify and assess corporate social responsibility, product compliance, and vendor management risk, serving hundreds of corporate clients and hundreds of thousands of suppliers internationally. In October 2018, Assent closed its Series C funding round with Warburg Pincus providing the entirety of the investment, which totaled over $100 million USD (approximately $131 million CAD). This marked Assent's third successful funding round in three years, following a $31.4 million Series B round in July 2017 led by Greenspring Associates. The Series C funding was used to enhance the company's software and expand its product compliance, vendor management, and corporate social responsibility functionalities. At the time of the Series C investment, Warburg Pincus highlighted Assent's market leadership, noting that the company's innovative technology offerings and unmatched regulatory expertise had earned an outstanding reputation for providing world-class solutions to S&P 500 companies globally. |
| Jul 2017 | Series B | Greenspring Associates (lead); First Ascent Ventures; Volition Capital; RBC Capital; National Research Council of Canada Industrial Research Assistance Program; Business Development Bank of Canada | $32M | - | Assent is a supply chain data management platform that helps organizations collect product compliance, corporate social responsibility, and vendor risk data. The company provides comprehensive solutions for supply chain transparency and regulatory compliance across global markets. In 2017, Assent raised growth capital led by Greenspring Associates with participation from returning investors including Volition Capital, First Ascent Ventures, BDC, NRC-IRAP, and RBC. The funding was intended to support scaling and expand the company's customer base in the enterprise SaaS market. By January 2022, Assent had raised a total of $497 million across five funding rounds and achieved a $1 billion valuation following its Series D round led by Vista Equity Partners. The company counts some of the world's largest enterprises among its customers and is recognized as a market leader in supply chain data automation. |
| May 2016 | Series A | Volition Capital (lead); Greenspring Associates; First Ascent Ventures; RBC Capital; National Research Council of Canada Industrial Research Assistance Program; Business Development Bank of Canada | $20M | - | Assent Compliance is an Ottawa-based SaaS and data firm providing a comprehensive supply chain data collection platform for vendor management, ethical sourcing, and product compliance. 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, serving over 1,000 customers including top-tier global organizations. In 2016, Assent raised its Series A round led by Volition Capital with participation from First Ascent Ventures and other investors. Following the Series A, the company demonstrated strong growth, eventually raising a $350 million Series D in 2021 led by Vista Equity Partners and growing annual recurring revenue from $5 million to well over $100 million over a seven-year period. By 2024, Vista Equity Partners took a controlling share at a valuation exceeding $1 billion, with the company approaching $200 million in ARR and achieving profitability under founder Andrew Waitman's leadership. |
| Jan 2014 | Seed | Andrew Waitman | $1M | - | - |
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Who has invested in Assent?
9 investors have backed Assent across its funding rounds, including Business Development Bank of Canada, Greenspring Associates, Volition Capital, First Ascent Ventures, RBC Capital and National Research Council of Canada Industrial Research Assistance Program.
Lead investors include Vista Equity Partners, Warburg Pincus, Greenspring Associates and Volition Capital.
Assent Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Baltimore, MD | 2 | Lead | May 2016 | |
| Toronto | 2 | Participant | May 2016 | |
| Boston, MA | 2 | Lead | May 2016 | |
| Toronto | 2 | Participant | May 2016 | |
| Ottawa | 2 | Participant | May 2016 | |
| Montreal | 2 | Participant | May 2016 | |
| Austin, TX | 1 | Lead | Jan 2022 | |
This data is available for Pro users. Sign up to see all 9 Assent investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Assent
Assent has acquired 1 company to date.
Last acquisition by Assent was on July 8th 2026. Assent acquired iPoint-systems for undisclosed valuation.
Latest Acquisitions by Assent
| Description | iPoint-systems is a German software provider offering compliance management tools and consulting for environmental regulations and sustainability reporting. Its platforms handle data tracking, analysis, and disclosure for requirements like REACH, RoHS, WEEE, ELV, and Conflict Minerals throughout global supply chains. Reutlingen-headquartered, the firm serves manufacturing sectors navigating international product stewardship mandates. |
| HQ Country |  |
| HQ City | Reutlingen |
| Deal Date | 8 Jul 2026 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Assent acquisitions and their M&A valuation multiples. Start Free Trial | |
Assent Competitors
Assent competitors include listed companies like Infomart and GigaCloud Technology, and private ones like Route, Airbyte, ElasticRun and Matillion.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Japan | Publicly listed | $121M | $31M | $1.2B | 8.6x | |
| Salt Lake City, UT | Private | - | - | $1.4B | - | |
| San Francisco, CA | Private | - | - | $1.5B | - | |
 Pune | Private | - | - | $1.5B | - | |
 Manchester | Private | - | - | $1.5B | - | |
| United States | Publicly listed | $1.3B | $158M | $1.9B | 1.4x |
Assent Public Comps
Assent is no longer listed, but its public comps include Infomart, GuoChuang Software, GigaCloud Technology, New Trend International Logis-Tech, Huitongda Network, KSEC Intelligent Technooogy, Nordtech Group, Tecsys, Logo Yazılım and Xiamen Xiangyu Co.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $121M | $31M | 9.3x | 8.6x | 35.9x | 31.7x | |||
| $220M | ($17M) | 4.8x | - | (60.4x) | - | |||
| $1.3B | $158M | 1.6x | 1.4x | 12.8x | 10.6x | |||
| $352M | $42M | 1.4x | - | 11.9x | - | |||
| $7.8B | $112M | 0.0x | 0.0x | 0.3x | 0.3x | |||
| $298M | ($9M) | 1.4x | - | (44.3x) | - | |||
| $72M | $15M | 5.1x | - | 25.2x | - | |||
| $138M | $9M | 2.3x | 2.3x | 37.5x | 20.2x | |||
This data is available for Pro users. Sign up to see all Assent competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Assent
| When was Assent founded? | Assent was founded in 2010. |
| Where is Assent headquartered? | Assent is headquartered in Ottawa, Canada. |
| Is Assent publicly listed? | No, Assent was acquired by Vista Equity Partners in March 2025. |
| Who acquired Assent? | Assent was acquired by Vista Equity Partners in March 2025. |
| How much was Assent acquired for? | Assent was acquired for $1.3B in March 2025, a 5.2x revenue multiple. |
| What is Assent's valuation? | Assent was last valued at $1B in its Series D in January 2022. |
| How much funding has Assent raised? | Assent has raised $534M across 5 funding rounds. |
| What was Assent's last funding round? | Assent's last funding round was a $350M Series D in January 2022, led by Vista Equity Partners. |
| Who are Assent's investors? | Assent's investors include Greenspring Associates, First Ascent Ventures, Volition Capital, RBC Capital, National Research Council of Canada Industrial Research Assistance Program, Business Development Bank of Canada, Vista Equity Partners, Andrew Waitman and Warburg Pincus. |
| What is Assent's revenue? | Assent's latest recorded revenue is $50M (January 2022). |
| What is Assent's revenue multiple? | Assent's latest valuation implies a 20.0x revenue multiple ($1B valuation on $50M of revenue). |
| Which companies are comparable to Assent? | Companies comparable to Assent include Infomart, Route, Airbyte, ElasticRun, Matillion and GigaCloud Technology. |
| How many companies has Assent acquired? | Assent has acquired 1 company, including iPoint-systems. |
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