Why Latitude invested in Pave, the leading compensation platform for the global workforce
Behind every great business lies some of the world’s greatest talent, who may now live anywhere and are looking to be compensated in a competitive and equitable manner.
For companies, trying to grasp what a competitive yet fair compensation package looks like in a remote first world is more complex than ever. Compensating employees should be a joyful experience, whereby leadership teams can show employees how much they are valued through clear and transparent compensation offers. Yet to date, the HR teams managing this process spend days, if not weeks, manually submitting their own employee compensation data in order to receive an unhelpful and outdated spreadsheet showing benchmarks from legacy archaic compensation providers.
Enter Pave.
Pave, founded by talented software developer Matt Schulman, offers a variety of tools that best support startups and scale-ups in planning and communicating compensation. They have built a beautifully designed API-driven compensation benchmarking tool that companies seamlessly integrate with to gain access to Pave’s insights free of charge. More than that, Pave has a suite of tools to support people leaders in scenario planning, merit cycles and compensation communication. Employees and candidates also use Pave to visualise their compensation offer, and how the compensation evolves over time, helping companies to compete in attracting talent and retaining their employees.
If you’re a private company in the UK, Ireland, Germany, the Netherlands, France, and of course the US, click here to join Pave. It will take 2 minutes to connect, cost nothing, and I guarantee you will receive a huge amount of value!
Pave also acquired Advanced HR’s Option Impact, an executive compensation platform that we’ve been using with our portfolio companies for a number of years to offer salary and equity compensation benchmarks for executive roles.
Through Pave, you can now access this real-time executive compensation data from over 3,000 companies. This solidifies Pave’s position as the world’s largest compensation database for private companies. Collectively, Pave and Option Impact are serving over 6,000 businesses across the globe. To sign up and gain access to the executive compensation data, click here.
At LocalGlobe and Latitude, we have been searching for a better solution to compensation benchmarking for years, having seen what a huge pain point it is for the founders and people leaders that we work with. When Pave’s customers told us of this “game changing tool” loved by both HR teams and employees in equal measures, that connected to HR systems within minutes to support across comp planning, review cycles, and winning top candidates in the talent market, we knew that we had to be on this journey with Matt and team to help supercharge the rollout across Europe.
We are thrilled that Latitude is investing in Pave’s Series C round, alongside Index Ventures. When it comes to compensation benchmarking, we finally have a tool we can wholeheartedly recommend — it’s something our community of 500 founders, and 150 people leaders have long been waiting for.
How Latitude supports companies like Pave launching in Europe
Through our Latitude fund, we invest in Series B+ rounds of breakout companies, both emerging from LocalGlobe (our pre-seed/seed fund) as well as more widely (like Pave). We don’t lead rounds through Latitude, so you can instead think of us as a small cheque, high impact scale-up partner on your cap table.
We’ve backed a number of US HQ’d companies at scale-up stage as they launch Europe. With extensive local knowledge and an active portfolio community full of exceptional talent, we help support on common logistical challenges, supporting your early team (we’ve had several camp out in our office until they find permanent digs) and localise your GTM playbook to help drive European growth.
We just need to believe, like you, that you have the standout product within a given category, as Pave does. If that sounds like you, get in touch!
