Ascentis provides a comprehensive, end-to-end SaaS suite of HR, benefits, payroll, timekeeping and talent management products, including recruiting, HRIS, online payroll, and learning and performance modules. Its integrated platform automates HR and payroll processes, supports electronic submissions to insurance carriers, and offers employee and manager self-service with reporting. The company serves more than 1,000 customers throughout the U.S. and Canada, targeting mid-market organizations that need scalable HCM functionality. Ascentis positions one-point-of-data-entry to keep employee information accurate and support paperless open enrollment. The company plans to use its recent financing to fuel product innovation and drive new growth initiatives. Management changes tied to the transaction include the appointment of Brian Provost, an Executive‑in‑Residence with Summit Partners, as CEO. Following the recapitalization, Catalyst Investors will exit and Palm Ventures will remain a minority shareholder. Ascentis provides software-as-a-service human resources software, online payroll services and human capital management (HCM) solutions designed to automate HR and payroll processes. Its product set covers benefits management, compliance, online open enrollment, time and attendance, real-time payroll processing, tax filing, applicant tracking, employee and manager self-service, and reporting. The company said it will use the new funding to grow the business and develop innovative HCM products. The company is led by CEO DJ Chhabra and is based in San Mateo, Calif. Ascentis is backed by Palm Ventures in addition to the lead investor in the recent round. The financing was reported on 22/01/2015.

Total raised

$7M

Funding rounds

2

Latest round

Series C

Latest activity

Jan 2015