Funding round
Assent Series B
Assent, which works in supply chain sustainability solutions in Ottawa, raised $40M in a Series B round announced on 14 Jul 2017, led by Greenspring Associates. 6 firms took part. It is Assent's third venture round on record; the one before was a Growth in May 2016.
$40M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Assent did not disclose a valuation in this round. It came 14 months after Assent's Growth. It is 7.8% of the $511M Assent has raised in the venture rounds on record. Assent raised again 15 months later: a Growth round of $100M in Oct 2018. 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
Greenspring Associates led the round with 5 other firms.
Lead investor
- Greenspring Associates new investor
Also in the round
- backs 42 venture-backed companies new investor
- OpenText Enterprise Application Fund (OTEAF) new investor
- Business Development Bank of Canada (BDC) new investor
- National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) new investor
- Royal Bank of Canada (RBC) new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
372 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 2.5 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| SenseTime Tech Companies | 14 Jul 2017 | $410M | $1.50B | not named |
| Tech Companies | 28 Jul 2017 | $350M | $1.10B | Zeus Entertainment |
| Tech Companies | 19 Jul 2017 | $159M | not disclosed | SoftBank Group Corp. and Greylock Partners |
| Tech Companies | 25 Jul 2017 | $62M | not disclosed | Y Combinator |
| Tech Companies | 20 Jul 2017 | $50M | not disclosed | Insight Partners |
| Tech Companies | 18 Jul 2017 | $50M | not disclosed | Activant |
| Tech Companies | 18 Jul 2017 | $43M | not disclosed | Georgian |
| Tech Companies | 25 Jul 2017 | $33M | not disclosed | Pitango |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Assent raise in its Series B round?
Assent raised $40M in its Series B round, announced in Jul 2017.
Who led Assent's Series B round?
Greenspring Associates led it, with Volition Capital, OpenText Enterprise Application Fund (OTEAF), Business Development Bank of Canada (BDC), National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) and Royal Bank of Canada (RBC).
What was Assent's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
372 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was 2.5 times the median.
Did Assent raise again after this round?
Yes: a Growth round in Oct 2018 of $100M.