# Ascen

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ascen

- Industry: Software
- Headquarters: US
- Website: www.ascen.com/
- Latest round: Seed (Mar 18, 2019)
- Investors on record: 4

## About

Ascen Inc. provides comprehensive Employer of Record (EOR) and Agent of Record (AOR) services, focusing on supporting staffing agencies and organizations that hire contingent workers with seamless operational solutions.Ascen Inc. is a provider of EOR and AOR services, focusing on operational support for staffing agencies. Founded in 2018 in the United States by Francis Larson, the company has conducted two deals and is headquartered in the US. Francis Larson has a history of entrepreneurship, having founded other companies prior to Ascen. The latest funding round took place in August 2025, with no further details disclosed.Ascen specializes in providing Employer of Record (EOR) and Agent of Record (AOR) services tailored for staffing agencies and organizations engaging contingent workers. Their platform addresses operational challenges, including compliant onboarding, payroll management, benefits administration, and workers' compensation insurance. Ascen's services enable integration with existing systems through an open API, facilitating advanced payroll and timesheet automation. The company serves clients across the United States, Canada, and select international markets in sectors like healthcare, IT, professional services, and light industrial staffing, utilizing a pay-as-you-go model to enhance operational efficiency.Ascen generates revenue mainly through its EOR and AOR services targeted at staffing agencies. Their transactional structure includes fees for onboarding, payroll processing, and additional services like background checks and benefits administration. Revenue is derived from a combination of subscription models and usage-based pricing, dependent on the number of contractors or employees onboarded. The platform also features an embedded payroll funding solution to aid clients in managing cash flow, thereby creating a steady revenue stream while ensuring timely payments to contractors.In August 2025, Upwork Global Inc. agreed to acquire Ascen Inc. from Y Combinator, VentureSouq, Magic Fund, and K50 Ventures, with financial terms undisclosed. This acquisition aims to enhance Upwork's service offerings and facilitate expansion into new markets. With the recent funding, Ascen plans to further develop its product suite and extend its reach into additional geographic regions, enhancing its operational capabilities.

## Funding rounds

- Seed, Mar 18, 2019 — Y Combinator, VentureSouq, Actions Capital, Magic Fund

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- VentureSouq (https://capitalatlas.ai/funds/venturesouq) — Seed
- Actions Capital (https://capitalatlas.ai/funds/actions-capital) — Seed
- Magic Fund (https://capitalatlas.ai/funds/magic-fund) — Seed