Compa, a US-based deal desk software company for talent acquisition teams, announced last week that it has made its first US$3.9 million capital raise in a seed funding round. The company was bootstrapped before this and will use the capital to expand its team and product line.
Founded in 2020 by Charlie Franklin and Joe Malandruccolo, Compa offers deal desk software that enables recruiters in handling and managing hiring procedures and compensation strategies effectively, without relying on crowdsourcing data or surveys to compare pay. The software uses automation and market intelligence to deliver information on compensation trends across companies and industries. Recruiters can collate pay expectations, recent offers, and input from other team members and hiring managers to more effectively determine compensation levels.
Charlie Franklin, Co-founder, and CEO of Compa said that the company will create a transparent platform, using innovation and advanced technologies. The idea is to give recruiters tools to keep themselves relevant, quick, and competitive in today’s dynamic talent market. “Talent leaders are confronted with a white-hot market and candidates who expect greater pay transparency,” he explained. “As HR teams learn to navigate this changing landscape, a new generation of software will become a requirement to adapt compensation strategy quickly and at scale.”
The funding was led by Base10 Partners along with other participating angel investors and companies including Crosscut Ventures, Acadian Ventures, Acadian Ventures, 2.12 Angels, OysterHR CEO Tony Jamous, Scout RFP co-founders Alex Yakubovich and Stan Garber, and a few Silicon Valley executives. Jamison Hill, Partner at Base10 Partners revealed that they hooked onto Compa while looking for ESG centered companies or start-ups focused on compensation management.
News Source: People Matters