OpenComp provides a compensation intelligence platform that delivers real-time benchmarking, cross-organization compensation analysis, and DEI evaluation tools. The platform aggregates verified market data and workforce analysis so customers can make data-driven pay decisions while managing cash burn and equity dilution. Since its seed round a year ago, OpenComp reports customer growth of 432% to more than 2,100 high-growth companies, and says customers closed their pay gap 75% above the national average within a year. The company offers a free tier for organizations up to 50 employees and tiered pricing for larger customers. The $20M Series A will be used to grow the product, operations, go-to-market and engineering teams. OpenComp was founded in 2021 by Thanh Nguyen and Nancy Connery. OpenComp offers a cloud-based platform that combines verified market data, analytics, planning tools, DEI benchmarking and remote-first planning to help companies develop compensation strategies. The product generates insights to create competitive offers, budget accurately, forecast cash needs, and ensure equitable pay and representation. Professional consultation is bundled in two standard packages and is available on demand for more complex needs. Pricing is free for early-stage and nonprofit organizations, with tiered paid plans for other customers. Since its soft launch in January the company reported more than 580 sign-ups, and its About section states more than 860 companies use OpenComp, including Medium, Superhuman and Udacity. The company says the new funding will be used to support customer growth.

Total raised

$25M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2022