Ravio announced it has raised a $12 million Series A funding round led by Spark Capital (US) with participation from Blackbird (Australia) and Cherry Ventures (Europe) to transform how companies manage compensation with real-time market data and decision making tools.
Ravio collaborates with leading consumer brands like Just Eat Takeaway and Octopus Energy among its customers, alongside fintech leaders such as Wise, Adyen, and Mollie. And popular names like Zoopla and Skyscanner have also picked Ravio to set their compensation strategies.
Despite representing a majority of operating costs, most companies make these important decisions using patchy data that is 12 to 18 months old. And this outdated approach creates significant issues:
1.) Talent leaves when underpaid compared to current market rates
2.) Companies overspend on some roles while struggling to attract talent in others
3.) Pay inequities develop as new hires and existing staff operate from different reference points
Companies that switched to Ravio’s real-time compensation data platform are seeing immediate benefits. And HERO Software, a German SaaS company growing from 100 to 250 employees this year, utilized Ravio to transform their compensation strategy.
Ravio’s platform: Ravio’s platform provides relevant market data across 46+ countries and 100+ roles, helping companies make informed decisions quickly. And the platform provides: 1.) Continuously updated live total rewards benchmarks 2.) An easy way to benchmark entire organisations against current data 3.) Tools built specifically to help modern compensation leaders simplify pay bands infrastructure, run merit cycles, and prevent pay inequalities
Customers securely connect data from their HR software through API, which is then anonymously aggregated into market-level benchmarks, with a give-to-get model. And they can then compare their salary, equity and benefits packages to today’s market with filters for headcount, funding stage, and industry. Whenever employees join, leave, or receive pay changes, the update syncs back to Ravio.
What the funding will be used for: With the Series A funding round, Ravio will continue its international expansion to help compensation Rewards leaders access modern tooling needed to deploy competitive pay strategies.
Ravio also plans to use the new funding to:
1.) Continue growing a comprehensive dataset with expanded regions and industry coverage
2.) Develop advanced market insights, including new hire benchmarks and predictive analytics
3.) Invest in tools for efficient compensation management
KEY QUOTES:
“The idea for Ravio was born from running compensation reviews during the early days of building Deliveroo. We were scaling rapidly, and it was painful finding data from relevant companies. I was building bands across countries, ensuring my data reflected the current market, and trying to fill in gaps for remote markets. It was impossible.”
Vaso Parisinou, Chief People Officer at Ravio
“Market data hasn’t kept pace with today’s dynamic market. We’re bringing decades-old survey methodology into the modern age by plugging directly into our customers’ HR systems. This approach automates the data collection process and lets us continuously analyse market movements as they happen.”
Merten Wulfert, co-founder and CEO of Ravio
“When we built salary bands using Ravio, we could immediately see a few outliers – it was easy to spot pay equity issues.”
Anna-Lena Grimm, Director of People & Culture at HERO
“Access to Ravio’s live market data means no more headaches from delayed data sets or having to age compensation data. Ravio offers real-time data with amazing visualisations.”
Jodi Slomp, VP People at Mollie
“What I love about Ravio is the ability to track what’s going on in today’s market. Now, we can benchmark against current market rates in real-time.”
Evert Kraav, Senior Compensation Manager at Bolt
“After supporting 1,200+ companies, we’ve seen how compensation leaders are put in tough positions with insufficient data and outdated tooling. We’ve built what our customers told us they need: real-time insights and decision-making tools without painful or time-consuming admin. Our mission is to empower compensation teams to lead with accurate, defensible data in every conversation.”
Raymond Siems, Chief Product & Technology Officer at Ravio
“We’re excited to double down on our previous investment in Ravio by leading their Series A. Getting compensation right is challenging for companies of any size and industry. We believe Ravio is positioned to become the industry standard for real-time compensation data.”
Alex Finkelstein at Spark Capital
