Ascentis Raises Growth Equity Financing from Summit Partners
Summary
Ascentis Corporation, a market-leading provider of cloud-based, software-as-a-service (SaaS) human capital management (HCM) solutions and integrated payroll services, today announced a majority recapitalization by global growth equity investor Summit Partners. With more than two decades of executive leadership experience in rapidly growing SaaS technology companies, Mr. Provost joins Ascentis from Summit Partners Executive-in-Residence (EIR) program. "With Brians background driving growth at SaaS-based companies focused on HR, compliance, tax and expense management, Ascentis is a perfect fit for his talents. Notable software and SaaS companies financed by Summit include Avast, Clearwater Analytics, Darktrace, Gainsight, HelpSystems, Hyperion Solutions, Infor, McAfee, Perforce, RiskIQ, Telerik, TSheets, WebEx and Visier. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue and margin growth.