Ascent, an AI-driven solution that helps customers automate regulatory compliance, announced today the closing of its Series B funding round of $19.3 million. The round was led by Drive Capital and includes investments from global banks ING and Wells Fargo, Series A investor lead Alsop Louie, and Series A participant The University of Chicago. Now entering its fourth year of operations, Ascent will use this round to fuel the continued growth of its team, product, and brand awareness in the financial compliance space.
“Keeping up with regulation is mission-critical for businesses,” said Brian Clark, Founder and CEO of Ascent. “While digital transformation of the enterprise is happening everywhere, compliance has been largely left behind, which is unthinkable considering the risk involved in compliance work. We are thrilled to partner with our Series B investors to help customers achieve certainty in their compliance operations, and we’re excited to advance Ascent’s mission to reduce the cost of compliance and protect the rule of law.”