The Briefing: Assent Compliance Raises $350M, PayFit Lands $287M, And More

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Assent Compliance raises $350M

Ottawa-based Assent Compliance, a provider of software used in tracking and improving supply chain sustainability, announced it raised $350 million in a financing led by Vista Equity Partners.

The investment sets a valuation of over $1 billion for Assent, which says it has expanded its global workforce by 35 percent and grown annual recurring revenue by more than 50 percent over the past 12 months.

— Joanna Glasner

PayFit lands $287M for payroll tools

Paris-based PayFit, a provider of payroll tools for small and medium-sized businesses, raised 254 million euros ($287 million) in a Series E funding round. General Atlantic led the round, with participation from existing investors Eurazeo, Bpifrance and Accel.

The financing sets a valuation of around $2 billion for the 7-year-old company. With the latest round, total funding to date is around $495 million, per Crunchbase data.

— Joanna Glasner

Funding rounds

Labelbox closes $110M round: San Francisco-based Labelbox raised a $110 million Series D led by SoftBank Vision Fund 2. The  company, whose software helps integrate training data to improve ML/AI model performance, has raised $189 million in venture funding since being founded in 2018. Snowpoint Ventures and Databricks Ventures also participated in the new round, along with previous investors B Capital Group, Andreessen Horowitz and Catherine Wood, CEO and founder of ARK Invest.

— Chris Metinko

iProov pulls in $70M: London-based iProov, a provider of technology to authenticate remote users online for onboarding and verification, raised $70 million in a growth investment backed by Sumeru Equity Partners. The financing follows a sharp growth spurt for Silicon Valley-based iProov, which said it tripled revenue from 2020 to 2021.

— Joanna Glasner

Illustration: Dom Guzman

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