Syndio, a Seattle, WA-based pay equity company, received a seven-figure investment from Penny Jar Capital, an early-stage investment firm anchored by Stephen Curry.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate growth to enable organizations to establish lasting workplace equity.
Founded in 2017 by Zev Eigen, Chief Data Scientist, and led by Maria Colacurcio, CEO, Syndio is a maker of pay equity software used by hundreds of Fortune 2000 companies such as Salesforce, Adobe, General Mills, PagerDuty and Nordstrom rely to eliminate hiring and promotion bias, improve diversity, and ensure equitable pay. The company is continuing to release new features, most recently releasing Pay Finder, a feature set that allows companies to guide discretion and eliminate bias in starting pay and promotions.
Commenting on the deal, Stephen Curry said: “Ensuring people are paid fairly is long overdue, and is a fundamental issue that needs to be addressed to progress towards an equitable society.
“Syndio is an objective solution that removes unconscious bias from the equation and changes the way business leaders tackle workplace equity, making pay equity the standard for companies around the world,” he added.
Penny Jar Capital joined existing Syndio investors Bessemer Venture Partners, Emerson Collective, and Voyager Capital.