Funding round
Assent Growth
Reported as "Growth Equity"
Assent, which works in supply chain sustainability solutions in Ottawa, raised $20M in a Growth round announced on 4 May 2016, led by Volition Capital. 5 firms took part. It is Assent's second venture round on record; the one before was a Seed in Jan 2014.
$20M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Assent did not disclose a valuation in this round. It came 28 months after Assent's Seed. It is 3.9% of the $511M Assent has raised in the venture rounds on record. Assent raised again 14 months later: a Series B round of $40M in Jul 2017. Its next priced round, a Growth in Jan 2022, valued it at $1.00B.
Assent's funding rounds
Assent has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Volition Capital led the round with 4 other firms.
Lead investor
- backs 42 venture-backed companies new investor
Also in the round
- OpenText Enterprise Application Fund new investor
- Business Development Bank of Canada new investor
- Industrial Research Assistance Program (IRAP) new investor
- Royal Bank of Canada new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
85 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $33M, and this round was 61% of the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Age of Learning Tech Companies | 3 May 2016 | $150M | $1.00B | Iconiq Capital |
| Tech Companies | 16 May 2016 | $50M | not disclosed | not named |
| Tech Companies | 16 Jun 2016 | $130M | not disclosed | not named |
| Tech Companies | 6 Apr 2016 | $50M | not disclosed | not named |
| Tech Companies | 29 Jun 2016 | $46M | not disclosed | CapitalG |
| Tech Companies | 20 Jun 2016 | $30M | not disclosed | Highland Europe |
| Tech Companies | 4 Apr 2016 | $4.0M | not disclosed | Five Elms Capital |
| Tech Companies | 1 Mar 2016 | $100M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Assent raise in its Growth round?
Assent raised $20M in its Growth round, announced in May 2016.
Who led Assent's Growth round?
Volition Capital led it, with OpenText Enterprise Application Fund, Business Development Bank of Canada, Industrial Research Assistance Program (IRAP) and Royal Bank of Canada.
What was Assent's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
85 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $33M, and this round was 61% of the median.
Did Assent raise again after this round?
Yes: a Series B round in Jul 2017 of $40M.