Pave (formerly: Trove), a San Francisco, CA-based provider of a suite of real-time total compensation tools, raised $16m in Series A funding. The round was led by Andreessen Horowitz with participation from a16z Cultural Leadership Fund, Bessemer Venture Partners, Bezos Expeditions (a personal investment company of Jeff Bezos), Dash Fund, and Y Combinator.
“It’s time to put cumbersome processes to the side and enter a new era of compensation practices rooted in transparency and fairness for all parties involved,” said Matt Schulman, founder and CEO, Pave. “We’re excited to bring this reality to life by expanding companies’ access to real-time benchmarking tools and insights.”
Pave provides a suite of tools to plan and communicate total compensation, eliminating confusion around equity. The Pave suite integrates with dozens of applicant process, HR, and compensation planning tools, including Greenhouse, TriNet, BambooHR, Namely, Carta, Lever, ADP, Workday, Jobvite, Shareworks, Rippling, Justworks, Paylocity, Sapling, UltiPro, and E-Trade.