Funding round
Assent Growth
Reported as "Growth Equity"
Assent, which works in supply chain sustainability solutions in Ottawa, raised $350M in a Growth round announced on 6 Jan 2022, led by Vista Equity Partners, at a $1.00B post-money valuation. 5 firms took part, 5 of them already investors. It is Assent's fifth venture round on record; the one before was a Growth in Oct 2018.
$350M
Amount raised
$1.00B
Post-money valuation
$650M pre-money
5
Investors
1 lead
35%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Assent at $1.00B after the new money. The $350M bought investors about 35% of the company. It came 39 months after Assent's Growth. It is 68% of the $511M Assent has raised in the venture rounds on record. No later venture round is on record for Assent.
Assent's funding rounds
Assent has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Vista Equity Partners led the round with 4 other firms. Vista Equity Partners, Warburg Pincus, Volition Capital and First Ascent Ventures and 1 more had backed Assent before.
Lead investor
- Vista Equity Partners backs 43 venture-backed companies existing investor
Also in the round
- Warburg Pincus backs 76 venture-backed companies existing investor
- backs 42 venture-backed companies existing investor
- backs 8 venture-backed companies existing investor
- StepStone Group existing investor
Joined the board: Patrick Severson (Vista Equity Partners) and Jake Hodgman (Vista Equity Partners).
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
443 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $58M, and this round was 6.0 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| project44 Tech Companies | 11 Jan 2022 | $420M | not disclosed | Thoma Bravo and TPG |
| Animoca Brands Tech Companies | 18 Jan 2022 | $359M | $5.00B | Liberty City Ventures |
| Tech Companies | 26 Jan 2022 | $295M | $2.70B | not named |
| Fever Tech Companies | 26 Jan 2022 | $227M | $1.00B | Goldman Sachs and Goldman Sachs Asset Management |
| Tech Companies | 12 Jan 2022 | $190M | $1.20B | Advent International and Insight Partners |
| Tech Companies | 14 Jan 2022 | $161M | not disclosed | not named |
| NEAR Tech Companies | 13 Jan 2022 | $150M | not disclosed | Three Arrows Capital |
| Tech Companies | 21 Jan 2022 | $150M | not disclosed | Vista Equity Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Assent raise in its Growth round?
Assent raised $350M in its Growth round, announced in Jan 2022.
Who led Assent's Growth round?
Vista Equity Partners led it, with Warburg Pincus, Volition Capital, First Ascent Ventures and StepStone Group.
What was Assent's valuation at the Growth round?
$1.00B post-money ($650M pre-money).
How does it compare with other Growth rounds in Tech Companies?
443 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $58M, and this round was 6.0 times the median.