# Ascentis Corporation

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

- Industry: Software
- Headquarters: Eden Prairie, US
- Website: www.ascentis.com
- Total disclosed funding: $7M
- Latest round: Series C (Jul 22, 2015)
- Investors on record: 1

## About

Ascentis Corporation specializes in human capital management solutions, focusing on enhancing workforce management and employee engagement for diverse industries globally.Founded in 1984, Ascentis Corporation is based in Eden Prairie, US, and provides human capital management solutions. In March 2022, Ascentis was acquired by UKG Inc., supported by notable investment firms, thereby enhancing UKG's industry expertise. The company's founder, Dwight Matheny, has a history of leadership in various organizations. Ascentis has completed a total of 7 deals, with its latest funding round being Series C, raising USD 7.00 mn, which matched its total amount raised.Ascentis, now a part of UKG, offers comprehensive human capital management (HCM) solutions designed to enhance workforce management and employee engagement across diverse industries. Their core product, UKG Pro, utilizes artificial intelligence to streamline and automate HR and payroll tasks, enabling organizations to focus on employee development and customer interaction. The platform is particularly effective in optimizing administrative efficiency, as evidenced by clients like Eventide Senior Living Communities, which reported a 99% reduction in reporting time. Ascentis serves over 80,000 organizations globally, spanning various sectors including retail, healthcare, and hospitality, and provides tailored solutions to meet the unique needs of each client. The company’s services extend beyond the United States, as it operates in markets across Canada, Europe, and the Asia-Pacific region, thus addressing a broad spectrum of employee management challenges.Ascentis generates revenue through subscription-based pricing structures for its HCM solutions, primarily targeting mid-sized to large enterprises. Clients engage with the firm on a contractual basis, typically involving annual subscriptions for access to the UKG Pro suite and related services. The revenue model includes tiered pricing based on the number of employees or the specific features utilized within the platform, allowing businesses to select plans that align with their operational requirements. In addition to subscriptions, Ascentis may also offer bespoke consulting services to assist organizations with implementation and optimization of their workforce management solutions. This structured approach to transactions ensures a recurring revenue stream while facilitating long-term partnerships with clients seeking to enhance their HR capabilities.The acquisition of Ascentis by UKG Inc. on March 9, 2022, is expected to bolster UKG's market presence by incorporating seasoned industry professionals. Future growth strategies may include the development of new products within the HCM space, although specific release dates are not detailed. The company is likely to focus on expanding its services into new geographic markets, particularly in regions where its expertise can address localized employee management needs, further supported by the strategic funding received.

## Funding rounds

- Series C, Jul 22, 2015, $7M — Catalyst

## Investors

- Catalyst (https://capitalatlas.ai/funds/catalyst) — Series C