Hiringplan.io now benchmarks by total funding raised

Hiringplan is an easy-to-use headcount planning tool with built-in compensation market data. Learn more about why we built Hiringplan, and our partnership with Connery Consulting, our compensation market data provider.

When we first released Hiringplan in 2018, the standard way to benchmark VC-funded startup compensation data was by funding stage. For example, if you were a series A stage company, the best way to understand your market was to look at data from other series A stage companies. In recent years we have seen much more variability in the size of funding rounds. This trend has made benchmarking by funding stage less reliable. For example, if your startup has raised a total of $3M by the time you close your A-round, looking at other companies at the same funding stage but who have instead raised $30M will skew the data, especially for the stock option component of compensation.

“With financing rounds getting larger, the industry has moved to looking at companies based on total financing vs typical A, B, C series designation.” — Thanh Nguyen, Executive Director, Connery Consulting.

In line with this trend, we recently shipped a significant update to Hiringplan that uses Connery’s latest data models and includes a number of improvements:

• Always-fresh Data: The underlying dataset used by Hiringplan will now be updated more regularly (semi-annually, soon to be quarterly) and has just been refreshed with data from H2 2019. This means you can be confident that as your company grows, your hiring scenarios will always be built using the most accurate market data available.
• Benchmark by Total Funding Raised: Hiringplan will now use your company’s total capital raised (instead of your funding stage) for more accurate benchmarking. You can know the numbers are much more comparable to other companies with similar funding as your company.
• Better Job Categorization and Leveling: Another perk to using Connery’s new dataset is that roles and level information is kept updated and aligned with industry standards over time.

What does this mean for you?

If you’ve been an existing Hiringplan user before April, 2020, you’ll be able to easily enter your company’s total funding raised in order to unlock the new dataset for your scenarios. All new scenarios will automatically use Connery’s newest datasets going forward.

“I’ve been working with comp data from various providers for 20+ years. Connery’s dataset was the most representative of the caliber of companies I work with.” — Dan Portillo, Managing Partner at Sweat Equity Ventures, ex Talent Partner at Greylock Partners

Questions & Feedback?

Let us know what you think of these changes. We’re always looking to improve our products and would be happy to hear your feedback or feature suggestions. Email us at info@hiringplan.io