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.
“Compensation is more stressful than ever,” said Matt Schulman, Pave Founder and CEO. “We believe everyone is entitled to fair market information. We’re focused on unlocking insights and helping companies make informed and equitable decisions about their compensation packages, and we are excited to partner with investors who share our vision.
Pave integrates directly with customers’ HR and equity systems so that customers have access to real-time compensation data and never have to use spreadsheets for compensation surveys, merit cycles, or total rewards statements again.
The company intends to use the funds to expand operations and its business reach.
Announcement: Pave Raises $46M for Compensation Technology