Vista Equity Partners, a global investment firm focused on enterprise software, data and technology, has led a $350 million funding round in Assent Compliance Inc., a supply chain sustainability management firm. Existing investors Volition Capital, First Ascent Ventures and StepStone Group will retain ownership.
Assent provides enterprise-wide supply chain sustainability services through product compliance, trade compliance and ESG. The firm focuses on helping complex manufacturers identify and manage risk, market growth and brand reputation. The deal values Assent at over $1 billion and represents one of the largest Canadian software firm fund raises. The funding will assist Assent in advancing its SaaS platform, supporting its focus on ESG capabilities, growing its global footprint through Europe and expanding its team.
“The increasing complexity and scale of regulations and varying requirements globally, combined with a heightened focus on ESG, presents challenges for companies across industries, particularly for manufacturers,” said Andrew Waitman, CEO of Assent. “Assent enables deep insight and rapid transparency to help ensure products are made with environmental and human rights standards necessary to compete — and win — in markets of the future.”
Stikeman Elliott and Kelly Santini served as legal advisors to Assent. E&Y served as financial advisor to Vista and Kirkland & Ellis and McCarthy Tétrault provided legal counsel.