Assent Compliance plans to use the funding to enhance its platform and drive European expansion. Here are the top-line bullets you need to know.
Assent Compliance, a compliance automation platform, has raised $350M in private equity funding from Vista Equity Partners.
HOW’S THE COMPANY PERFORMING?
- Canada-based Assent Compliance helps companies manage and simplify both their supply chain and product compliance processes.
- Focusing exclusively on the manufacturing vertical, the company’s client base includes GE Appliances, Polaris, Stryker, and Escatec.
- Assent Compliance’s annual recurring revenue (ARR) is expected to rise above $100M this year.
- The startup is currently supported by a team of 820 employees, up 35% year-over-year.
- Assent Compliance has offices in Canada, the US, the UK, the Netherlands, and Malaysia.
Source: Assent Compliance
WHY DOES THE MARKET MATTER?
- The global supply chain management (SCM) market is expected to reach a value of $62.6B by 2031, growing at a CAGR of 11.4%, according to Future Market Insights.
- Complex manufacturers are increasingly prioritizing operational efficiency and data-driven decision making, which is contributing to market growth.
- The Covid-19 pandemic has disrupted supply chains across the world — solutions designed to help manufacturers manage operations amid disruption are likely to see a boom in demand.
