Ravio has raised a Β£9m Series A funding round led by Spark Capital (US) with participation from Blackbird (Australia) and Cherry Ventures (Europe) to modernise how companies manage compensation with real-time market data and decision making tools.
Ravio counts leading consumer brands like Just Eat Takeaway and Octopus Energy among its customers, alongside fintech leaders such as Wise, Adyen, and Mollie. Popular tech names like Zoopla and Skyscanner have also chosen Ravio to set their compensation strategies.
Despite representing 70% of operating costs, most companies make these important decisions using patchy data that's 12β18 months old. This outdated approach creates significant issues:
Companies that have switched to Ravio's real-time compensation data platform are seeing immediate benefits. HERO Software, a German SaaS company growing from 100 to 250 employees this year, used Ravio to transform their compensation strategy.
Ravio's platform delivers relevant market data across 46+ countries and 100+ roles, helping companies make informed decisions quickly. The platform provides:
Customers securely connect data from their HR software via API, which is then anonymously aggregated into market-level benchmarks, with a give-to-get model. They can then compare their salary, equity and benefits packages to todayβs market β with filters for headcount, funding stage, and industry. Then, whenever employees join, leave, or receive pay changes, the update syncs back to Ravio.
With Series A funding, Ravio will continue its international expansion to help compensation Rewards leaders access modern tooling needed to deploy competitive pay strategies.
Ravio plans to use the new funding to:
Founded in 2022, Ravio provides the data and tools companies need to achieve compensation confidence. By delivering real-time market insights and modern compensation management software, Ravio helps forward-thinking businesses avoid the "compensation debt" that occurs when pay practices fall out of alignment with market realities.
Following its Series A funding round, Ravio is giving free benchmarking access for 2 months to companies with more than 100 employees.