CINCINNATI, OH – RKCA, Inc. (“RKCA”), a leading, independent, middle-market investment bank, is pleased to announce the successful sale of Ascent Technologies Inc., (“Ascent”), an AI-driven software platform for regulatory compliance.
Ascent was founded in Chicago, IL in 2015. Ascent’s founding team witnessed firsthand the government’s response to the Great Financial Crisis which introduced new regulations that were significant and complex. The founders created Ascent to assist customers in automating regulatory compliance. Over the years, Ascent expanded its team with venture capital investment from Drive Capital, Alsop Louie Partners, and others. Under the leadership of Chief Executive Officer, Chris Junker and President & Chief Revenue Officer, Jon Leitner, Ascent’s solution and market reach grew steadily, the capability of the software platform expanded, and Ascent built integrations to numerous GRC platforms providing their customers a single reliable source of regulatory truth.
“Congratulations to Chris, Jon, and the Ascent team! Brent White and I enjoyed collaborating with Ascent’s management team to find a partner who could support and accelerate Ascent’s leading technology platform. We are very excited to announce their partnership with Edgewater Equity Partners,” said Mono Bhattacharya, RKCA Managing Partner.
Ascent was acquired by Edgewater Equity Partners (“Edgewater”), a private equity firm based out of Boston, MA with a focus on technology companies that offer innovative solutions to compliance, risk, and legal challenges. Edgewater was founded by Joe Bradley and Scott Goebel, each of whom have led long tenured careers investing and operating technology companies. Joe and Scott have an appreciation for the hard work that has gone into building Ascent’s solution.
Regarding RKCA’s role in the transaction, Chris Junker, Ascent’s CEO, said, “RKCA was crucial in spearheading the process to find a strategic partner for Ascent. Mono and Brent provided detailed guidance and leadership through the process that were invaluable and key to us closing this deal.”
RKCA was the sell-side advisor for the sale. Mono Bhattacharya, Managing Partner, and Brent White, Associate, led the transaction.
About Ascent:
Ascent is a leading provider of compliance automation solutions, leveraging artificial intelligence to streamline regulatory processes for financial services firms. With a commitment to innovation and excellence, Ascent is dedicated to empowering organizations to more effectively navigate the complex landscape of regulatory compliance to reduce risk, streamline operations and manage costs. For additional information, please visit: www.ascentregtech.com
