Techopia Live: Assent Compliance’s ‘winner-takes-all’ mentality

On the surface, Assent Compliance appears to be chasing a niche market.

The firm specializes in software that helps companies ensure they’re complying with government regulations throughout their supply chain – not exactly the sexiest Software-as-a-Service model that Ottawa’s ever produced.

But look a little closer, and one sees a rapidly growing data company that’s selling to a wide cross-section of Fortune 500 firms by automating what’s historically been a highly tedious and manual process.

Assent Compliance collects data from the supply chains of very large companies to ensure their products, for example, meet European environmental requirements and are free from toxic chemicals.

“The world is starting to realize that you need to automate this,” says CEO Andrew Waitman. “There is no other player who has thought about this in a global solution.”

Fresh off raising a $40-million series-B funding round, Mr. Waitman visited Techopia Live to discuss investor interest, the compliance market and how Assent Compliance’s business model differs from a certain Ottawa e-commerce juggernaut.