About Ascen
Ascen is a company based in Boston (United States) founded in 2018 by Francis Larson was acquired by Upwork in August 2025.. Ascen has raised $300 thousand across 2 funding rounds from investors including Upwork and Y Combinator. Ascen offers products and services including Employer of Record, Agent of Record, and Pay and Bill Software. Ascen operates in a competitive market with competitors including Workday, Kronos, SuccessFactors, Justworks and Sage Group, among others.
- Headquarter Boston, United States
- Founders Francis Larson
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Ascen Inc
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Products & Services of Ascen
Ascen offers a comprehensive portfolio of products and services, including Employer of Record, Agent of Record, and Pay and Bill Software. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Handles employment compliance and payroll for staffing organizations.
Manages IC classification and payments for contractors.
Facilitates pay and bill processes under client tax ID.
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Funding Insights of Ascen
Ascen has successfully raised a total of $300K across 2 strategic funding rounds. The most recent funding activity was a Seed round of $150 thousand completed in March 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $150,000
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First Round
First Round
(19 Mar 2019)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2019 | Amount | Seed - Ascen | Valuation |
investors |
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| Mar, 2019 | Amount | Seed - Ascen | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ascen
Ascen has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include Upwork and Y Combinator. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are accelerated via funding and educational programs.
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Businesses are connected with freelancers via an online marketplace.
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Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Investments & Acquisitions by Ascen
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Ascen
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ascen Comparisons
Competitors of Ascen
Ascen operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Workday, Kronos, SuccessFactors, Justworks and Sage Group, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based HR and financial software is delivered to enterprises.
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| domain | founded_year | HQ Location |
HCM software solutions for enterprise workforce management are provided.
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| domain | founded_year | HQ Location |
Cloud-based human capital management software is delivered globally.
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| domain | founded_year | HQ Location |
Benefits administration and payroll management are provided for businesses.
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Cloud-based accounting and payroll solutions for small and medium businesses
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| domain | founded_year | HQ Location |
Cloud-based payroll and HR solutions are provided for businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ascen
Frequently Asked Questions about Ascen
When was Ascen founded?
Ascen was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is Ascen located?
Ascen is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Who is the current CEO of Ascen?
Francis Larson is the current CEO of Ascen. They have also founded this company.
Is Ascen a funded company?
Ascen is a funded company, having raised a total of $300K across 2 funding rounds to date. The company's 1st funding round was a Seed of $150K, raised on Mar 19, 2019.
What does Ascen do?
Ascen was founded in 2018 in Boston, United States, within the HR technology sector. An online portal is operated for managing temporary workforce, with services including payroll processing, finance tools, and compliance updates tailored to each U.S. state. Integration with existing legacy systems is supported via APIs. Pricing is structured as a percentage of payrolls handled.
Who are the top competitors of Ascen?
Ascen's top competitors include Workday, SuccessFactors and Sage Group.
What products or services does Ascen offer?
Ascen offers Employer of Record, Agent of Record, and Pay and Bill Software.
Who are Ascen's investors?
Ascen has 2 investors. Key investors include Upwork, and Y Combinator.