PayScale, Inc., a Seattle, Washington-based provider of cloud compensation data and software-as-a-service (SaaS) for businesses and individuals, received an up to $100m majority investment from an affiliate of Warburg Pincus.
The proceeds will be used to recapitalize the company and fund growth initiatives, including hiring to expand its sales and product development teams among other areas.
Founded in 2000 and led by Mike Metzger, President and Chief Executive Officer, PayScale provides customers with a large database of individual compensation profiles. It contains more than 40 million salary profiles to provide a precise snapshot of current market salaries through its online tools and software.
The company has more than 3,000 enterprise subscription customers in 13 countries (including Cummins, Warby Parker, Zendesk, Clemson University and Covenant Dove).