On January 6, 2022, Assent Compliance Inc. (Assent), a leader in supply chain sustainability management, raised $350 million USD (approximately 445.9 million CAD) in funding led by Vista Equity Partners. The investment positioned Assent as a unicorn, with a valuation exceeding $1 billion USD (approximately 1.273 billion CAD). The funding will support the expansion of Assent’s SaaS platform, particularly in sustainability and ESG capabilities, as well as its global growth initiatives in Europe.

The investment was led by Vista’s Foundation Fund, which focuses on scaling middle-market enterprise software firms. Vista’s Patrick Severson and Jake Hodgman joined Assent’s Board of Directors. Warburg Pincus, which has been an investor in Assent since 2018 and remains its largest shareholder, also participated in the funding round. Other investors include Volition Capital, First Ascent Ventures, and StepStone Group.

Assent plans to increase its workforce by 40%, expanding teams in sales, services, engineering, customer success, and marketing. The company provides compliance and ESG solutions for complex manufacturers, helping them navigate global regulations and mitigate supply chain risks.

Legal advisors to Assent included Stikeman Elliott and Kelly Santini. Vista was advised by E&Y, with Kirkland & Ellis and McCarthy Tétrault providing legal counsel.