The funding helps Pave achieve unicorn status and will help the company expand in the European market. Here are the top-line bullets you need to know.
Pave, a compensation platform, has raised $100M in a Series C. The round drew participation from Index Ventures, Original Capital, and Andreessen Horowitz, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Pave allows companies to benchmark employee compensation.
- The platform has 2.5K customers, including Shopify, Fivetran, Miro, Allbirds, and Tide.
- It integrates with tools such as Greenhouse, Workday, Carta, Lever, and Zenefits.
- Pave is supported by a team of 150 employees.
WHY DOES THE MARKET MATTER?
- The global HR payroll software market is projected to reach a value of $55.69B by 2031, growing at a CAGR of 9.2%, according to Allied Market Research.
- The on-demand economy, the rise of flexible payment methods, a globally distributed workforce, and disruptions caused by Covid-19 have contributed to the industry’s growth.