Pave, a San Francisco, CA-based compensation technology platform, raised $46m in Series B funding.
The round, which valued the company at $400m, was led by the YC Continuity Fund with participation from existing investors Andreessen Horowitz, Bessemer Venture Partners and others. In conjunction with the funding, Ali Rowghani, Managing Partner of Y Combinator Continuity, joined Pave’s board.
The company intends to use the funds to expand operations and its business reach.
Founded in 2019 by CEO Matt Schulman, Pave provides a suite of tools to plan and communicate total compensation. The company’s suite integrates with dozens of ATS, HRIS, and equity management tools, including Greenhouse, TriNet, BambooHR, Namely, Lever, ADP, Workday, Jobvite, Shareworks, Rippling, Justworks, Paylocity, Sapling, UltiPro, Carta, and E-Trade. Currently, the company offers three core products:
- Plan: administer bonuses and equity refreshers during merit cycles with customizable recommendation and approval workflows that help leaders turn their compensation philosophy into reality.
- Communicate: extend visual offers and total compensation statements to candidates and employees.
- Benchmark: tap into thousands of real-time compensation benchmarks to determine how much to pay anyone from a software engineer to a sales rep, helping companies to attract and retain top talent.
FinSMEs
10/08/2021