Deal: $1.2 million Seed Round
Investors: Not named
What they do: Ascent is a “RegTech” startup that helps companies better manage regulatory compliance risk. The startup’s software helps companies save time, money and reduce risk by simplifying regulatory compliance with its centralized library of industry-specific regulations, workflow management tools, and heat maps that highlight regulatory activity. The software helps companies track, manage, and resolve complaints and compliance issues as they arise, Ascent says.
Other details: Ascent was a finalist in the 2015 New Venture Challenge and won $10,000 at the prestigious University of Chicago startup competition. The company said it will use the new funding to improve its platform and grow its team.
“We’re confident in our platform’s ability to dramatically simplify compliance processes for firms, and we’re eager to build upon this momentum to continue constructing the most comprehensive solution possible for our clients,” CEO Brian Clark said in a statement. “We understand the challenges of operating in a highly regulated industry and are dedicated to helping our clients protect their businesses by saving them time, saving them money, and reducing their risk.”