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OpenComp
Compensation intelligence platform
- 21-100 employees
- B2B
- HR
- Payments
- Analytics
- SaaS
- Five Points, Denver, CO
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Company mission
To organize the world’s compensation data, so it’s actionable and equitable for everyone.
100% employee growth in 12 months
Our take
Companies are under increasing pressure to recruit, retain, and reward top talent. This has meant an increasing focus on (and investment in) finding the right compensation - and it’s led to an emergent scene of startups offering compensation calculation tools. OpenComp is one of them, and it’s grown fast.
OpenComp’s compensation intelligence platform draws from live global compensation data to help HR teams make accurate salary decisions that track with their business goals - and track and analyse them from a single platform.
OpenComp has made the savvy decision to target high-growth pre-IPO companies, where the compensation question is most business-critical. Budgets are tight, and talent joining may have varying expectations - add to that the increasing number of startups going remote, and compensation calculations get tough.
It’s a strategy that’s paid off for OpenComp - since its launch in just 2021, it’s onboarded major startups like Discord, Figma, and instacart. Whilst this makes it a competitive player, OpenComp will still have to contend with the better-funded Pave, and smaller contenders like Barley. Maintaining its tight market focus is likely to help it carve out a strong niche.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Equity
- Medical, Dental, Vision Insurance
- WFH Stipend
- Professional Development Trainings
Funding (2 rounds)
Feb 2022
$20m
SERIES A
Mar 2021
$4.6m
SEED
Total funding: $24.6m
This company has top investors
Leadership
Thanh Nguyen
(Co-founder & CEO)Previously a consultant at Compensation Resource Group, then Deloitte, who went on to serve 7 years in various directorial roles at Salesforce. Has also spent around a decade as executive director and partner at Connery Consulting.
Nancy Connery
(Co-founder)Worked as a manager at Oracle, then spent 7 years as a Salesforce VP. Is also principal at Connery Consulting, where they have been for over 15 years.