Briefing

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

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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