Assent’s Compliance enables companies to manage and streamline their supply chain and product compliance efforts to ensure their products meet the standards of various market access regulations.
Founded in 2009, Assent Compliance provides supply chain compliance solutions and services related to materials sourcing regulations. Assent currently works with over 30 percent of S&P 500 product companies and thousands of small and medium-size businesses globally.
The Company serves manufacturers and their supply chains, enabling customers to automate the collection of materials-related data contained in the products they manufacture. In turn, this data is cleansed and analyzed to verify and document regulatory compliance.
After the launch of the initial product, the co-founders saw the massive market opportunity. In 2014, they brought on investor Andrew Waitman to help steer the Company into a position of market leadership. Over the next few years, the Company focused on building out the management team and solidifying the product.
In 2015, Assent decided it was time to raise capital to enter the next phase of growth. Volition Capital invested in the Company in Spring of 2016.
Regulatory compliance is a key component of Product Stewardship – the practice of anticipating, addressing, and mitigating any negative environmental or health and safety impacts that a product might have at any point in its lifecycle. It’s a space that we’ve increasingly focused on as regulations continue to increase in quantity and scope.
Meeting government-mandated Product Stewardship requirements has become a challenge for compliance personnel given the difficulty of orchestrating data collection throughout a multi-layer, global supply chain. Companies have traditionally tackled the problem by increasing internal headcount or hiring professional services firms, which are proving to be costly and unsustainable in the long run.
Enter Assent Compliance –
Volition Capital Managing Partner, Sean Cantwell’s take: “Assent’s suite of software solutions and pre-established network of suppliers helps automate the process from start to finish, providing companies with an efficient, cost effective, and scalable alternative to the status quo. Not only is Assent able to replace a process that companies have typically tackled with headcount and manual work, the Company benefits from the network effect. As the number of suppliers exchanging data on Assent’s platform continues to grow, so will the number of pre-established supplier relationships on its network, helping both sales processes and on-boarding of new customers.”
- The Assent team really hit it off with Volition from the beginning. Following one of their first meetings, co-founder Matt Whittaker took Sean and team for a boxing workout at the gym he founded.
- Boxing is actually a key component to the Assent Compliance culture. There’s a boxing ring in the middle of their HQ
- We introduced the Company’s Series B investor to the Management Team and helped facilitate the Series B financing.