Ascen

Ascen

Marketplace for remote talent.

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DateInvestorsAmountRound
-investor

€0.0

round
investor investor investor investor

€0.0

round
*

N/A

Acquisition
Total Funding000k
Chris Mairs
Chris Mairs(exited)
Kairos
Kairos(exited)
VentureSouq
VentureSouq(exited)
Y Combinator
Y Combinator(exited)
K50 Ventures
K50 Ventures(exited)

Financials

Estimates*

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Revenues, earnings & profits over time
USD2020202120222023
Revenues0000000000000000
% growth-67 %258 %16 %
EBITDA0000000000000000
Profit0000000000000000
EV0000000000000000
EV / revenue00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x
R&D budget0000000000000000

Source: Dealroom estimates

Notes (0)
More about Ascen
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Ascen operates as a specialized financial technology firm, providing a back-office platform and employer of record (EOR) services tailored for the staffing industry. Founded in 2018 by Francis Larson and headquartered in Boston, Massachusetts, the company was established to address the complexities of being an employer across multiple states, a challenge the founders identified while running their own tech-driven staffing firm.

The company's core offering is a Software-as-a-Service (SaaS) platform that functions as an all-in-one solution for staffing agencies. This platform manages a comprehensive suite of back-office operations, including compliant onboarding, payroll processing, benefits administration, workers' compensation insurance, timesheet and expense management, invoicing, and collections. Ascen's business model is structured to support the growth of its clients, offering a pay-as-you-go solution and embedded financing options. Revenue is generated by charging a percentage of the payrolls it processes. A key feature of their service is the white-label capability, allowing staffing firms to maintain their own branding across the platform's interfaces.

Ascen serves a diverse client base within the staffing sector, including new startups, international firms expanding into the U.S. and Canada, established agencies scaling their operations, and staffing platforms that integrate with Ascen's REST API. The company's EOR service legally employs a client's contingent workforce, assuming responsibilities for compliance with varying state and international labor laws. They also offer Agent of Record (AOR) services for correctly classifying and managing independent contractors. The company participated in the Winter 2019 batch of the Y Combinator accelerator program, which provided its initial seed funding of $150,000. In August 2025, Ascen was acquired by Upwork, a move intended to enhance Upwork's capabilities in the enterprise staffing and contingent workforce management space.

Keywords: employer of record, EOR services, staffing firm back office, payroll processing for staffing, contingent workforce management, recruitment agency software, payroll funding, agent of record, AOR services, white-label EOR, HR tech, compliance management, temporary staffing solutions, independent contractor compliance, international staffing expansion, Y Combinator alumni, Upwork acquisition, Francis Larson, workforce management platform, pay and bill software

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