About Ascend
Ascend is a company based in Palo Alto (United States) founded in 2021 by Praveen Chekuri and Andrew Wynn. It operates as a SaaS (Software-as-a-Service), FinTech, and InsurTech. Ascend has raised $35.5 million across 3 funding rounds from investors including FirstMark, Hudson Structured Capital Management and Index Ventures. The company has 39 employees as of December 31, 2024. Ascend offers products and services including Accounting Automation Solution, Invoicing and Payments, and Direct Bill Automation. Ascend operates in a competitive market with competitors including Functional Finance, InsurePay, SCIO Health Analytics, VPay and GoFetch Pay, among others.
- Headquarter Palo Alto, United States
- Employees 39 as on 31 Dec, 2024
- Founders Praveen Chekuri, Andrew Wynn
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Sectors
Financial Services
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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 Slash Eureka, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$35.5 M (USD)
in 3 rounds
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Latest Funding Round
$250 M (USD), Debt – Conventional
Jan 28, 2022
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Investors
FirstMark
& 29 more
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Employee Count
39
as on Dec 31, 2024
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Products & Services of Ascend
Ascend offers a comprehensive portfolio of products and services, including Accounting Automation Solution, Invoicing and Payments, and Direct Bill Automation. 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.
Comprehensive automation for insurance invoicing and payments provided.
Streamlined invoicing and payment processes for insurance offered.
Automated direct billing solutions for insurance operations delivered.
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Sales and Marketing
5 people
Leadership Team
4 people
Head Team
2 people
Data Analysis and Operations Team
1 people
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Funding Insights of Ascend
Ascend has successfully raised a total of $35.5M across 3 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $250 million completed in January 2022. 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 3
- Last Round Debt – Conventional — $250.0M
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First Round
First Round
(15 Sep 2021)
- Investors Count 30
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2022 | Amount | Debt – Conventional - Ascend | Valuation |
investors |
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| Jan, 2022 | Amount | Series A - Ascend | Valuation | Index Ventures | |
| Sep, 2021 | Amount | Seed - Ascend | Valuation | First Round Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 Ascend
Ascend has secured backing from 30 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include FirstMark, Hudson Structured Capital Management and Index Ventures. 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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Venture capital investments in technology startups and entrepreneurs.
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Founded Year | Domain | Location | |
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Investments in insurtech, fintech, and health-tech startups are made.
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Founded Year | Domain | Location | |
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Venture capital firm focused on fintech & insurtech sectors
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Founded Year | Domain | Location |
| Investor | Description | 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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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ascend
| 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 - Ascend
| 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 |
Ascend Comparisons
Competitors of Ascend
Ascend 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 Functional Finance, InsurePay, SCIO Health Analytics, VPay and GoFetch Pay, 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 |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online payment platform for insurance companies
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| domain | founded_year | HQ Location |
Cloud-based payroll integration is provided for insurance premium collection.
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| domain | founded_year | HQ Location |
Provides payment integrity solutions for healthcare organizations
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| domain | founded_year | HQ Location |
Payment solutions provider for insurers
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| domain | founded_year | HQ Location |
Pet insurance payment solution that allows pet owners to pay their vet bills
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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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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
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 Ascend
Frequently Asked Questions about Ascend
When was Ascend founded?
Ascend was founded in 2021.
Where is Ascend located?
Ascend is headquartered in Palo Alto, United States. It is registered at Palo Alto, California, United States.
Who is the current CEO of Ascend?
Praveen Chekuri is the current CEO of Ascend. They have also founded this company.
Is Ascend a funded company?
Ascend is a funded company, having raised a total of $35.5M across 3 funding rounds to date. The company's 1st funding round was a Seed of $5.5M, raised on Sep 15, 2021.
How many employees does Ascend have?
As of Dec 31, 2024, the latest employee count at Ascend is 39.
What does Ascend do?
Comprehensive financial technology solutions are offered by Ascend to unify insurance invoicing, payments, and accounting tasks. Services are designed for agencies, wholesalers, MGAs, and carriers to improve revenue, margins, and customer experience. Operations are streamlined through integrations with existing technology, reducing administrative expenses. Enhanced security measures are implemented to protect sensitive payment information and ensure compliance. A modern payment experience is delivered to meet customer expectations across the insurance sector.
Who are the top competitors of Ascend?
Ascend's top competitors include Functional Finance, SCIO Health Analytics and InsurePay.
What products or services does Ascend offer?
Ascend offers Accounting Automation Solution, Invoicing and Payments, and Direct Bill Automation.
Who are Ascend's investors?
Ascend has 30 investors. Key investors include FirstMark, Hudson Structured Capital Management, Index Ventures, Distributed Ventures, and NFP Venture.
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