No doubt, the employment market is challenging. Due to tech layoffs and AI-related job creation, firm pay teams need the finest data to stay ahead of industry developments, competition, and prices.
Compensation market data firm Compa got $3.9 million in early investment in 2021, according to Eltrys. The business used “deal desk” software to help recruiters manage their compensation strategy and make unbiased, easy-to-understand offers.
Charlie Franklin, co-founder and CEO of Compa, told Eltrys that 2021 was a hot job market where wages were rising quickly and firms were losing people at the compensation stage. Inflation was approaching, and the worldwide pandemic and remote labor transformed how firms paid workers. 
After the layoffs, “the compensation world has since been navigating extreme market volatility,” Franklin told Eltrys.
“The market shifted in 2022,” he remarked. Layoffs and cost-cutting were common. As compensation teams fly blind, they seek new solutions.”
In May 2023, Compa released a platform that aggregates pay data from participating firms. Annual reports usually include self-reported statistics.
Compensation teams may quickly spot market changes and adjust their tactics to increase competitiveness and cost by analyzing offer data in real time. Compa serves Airbnb, Nvidia, Stripe, Instacart, Block, DoorDash, Autodesk, and Marvell Technology.
Franklin claimed equity remuneration for AI engineering roles might be 240% more than for software engineering.
He added, “Our customers in these large companies will take that evidence and say, ‘It probably makes sense to track this separately in the market compared to traditional software engineering,’” They use our product data to make workforce planning decisions.
Franklin claimed Compa had “explosive growth” in 2023, growing sales 10x despite a depressed market. Data network growth was 793% in 17 countries.
This prompted the firm to seek more funding to develop quicker. Investors were keen.
Today, Compa announced a $10 million Series A investment. Penny Jar Capital, Indeed Ventures, NJP Ventures, Base10 Partners, and Acadian Ventures joined Storm Ventures in the investment.
Compa will extend its dataset of participating firms and improve its compensation analytics platform and technologies with the new funds. Franklin said further solutions will handle difficult compensation subjects, including stock-based remuneration and skills, later this year.
The business will organize its first in-person event in February to unite compensation teams around thought leadership.
“Ultimately, our customers are trying to answer a single fundamental question, which is what’s happening in the market today, and we can answer that with a product line and by connecting our community,” Franklin said.
