Building “deal desk” software for recruiters in a hyper-competitive hiring market, Compa secures Seed investment from Base10 Partners
CALIFORNIA AND MASSACHUSETTS — August 26, 2021 — Compa, an offer management platform that enables recruiters to create intelligent offers, emerges from stealth today. Compa’s debut comes alongside a $3.9M Series Seed round led by Base10 Partners. The round includes participation from Crosscut Ventures and Acadian Ventures, as well as several strategic angel investors including 2.12 Angels, OysterHR CEO Tony Jamous, Scout RFP co-founders Alex Yakubovich and Stan Garber, and other Silicon Valley executives.
Talent acquisition teams engage with the market every day, but lack the tools they need to effectively capture intelligence about candidates and competition. Legacy HCM and applicant tracking systems store data in a variety of siloed ways, making it difficult to glean insights from past offers that could support better decision-making for active candidates. Add in complicated compensation structures involving bonuses, commission, and equity-based compensation, and resource-constrained recruiting teams are stuck without the tools they need to create effective offers in a hot hiring market.
“Talent leaders are confronted with a white-hot market and candidates who expect greater pay transparency,” explained Charlie Franklin, co-founder and CEO of Compa. “As HR teams learn to navigate this changing landscape, a new generation of software will become a requirement to adapt compensation strategy quickly and at scale. Creating and communicating winning offers should be simple, fast, and unbiased, and we’re excited to be building a solution that helps enterprises accomplish just that.”
With Compa, talent acquisition teams can customize their compensation strategies to make intelligent offers and convert more candidates. Recruiters can capture pay expectations, compare offers to their enterprise’s recent offers, and collaborate with other team members and hiring managers to reach consensus faster and clearly communicate pay details. Compa automates market intelligence with real-time trends in competitor insights and offers performance to help hiring teams get smarter over time.
Compa’s growing customer list includes Nuro, the Bay Area-based autonomous driving technology company. “We want to move with the recruiting market and not be on our heels fighting to stay competitive,” explained Dakin Gunn, Head of Technical Recruiting at Nuro. “We see top candidates with 5 or 6 offers every day and we only have one shot to land them. With Compa, we can create a compelling winning offer based on our own offer data and be confident we’re putting our best foot forward without jeopardizing internal pay equity. This is a huge advantage in today’s insanely competitive talent market.”
“Companies are increasingly held to a higher standard for compensation, and we only expect the market to continue to move in that direction in an effort to improve diversity, equity, and inclusion,” noted Jamison Hill, Partner at Base10 Partners. “Compa is paving the way for must-have software that recruiters can rely on not only to ensure that offers are fair and equitable, but that those offers are going to compete in the rest of the market. We’re excited Compa chose to partner with Base10 as they begin meeting a critical need in the compensation management space.”
Compa was founded by a team with a deep compensation experience and understanding of the current HR management software landscape. CEO Charlie Franklin co-founded Compa after leading HR M&A at Workday. Prior to Workday, Franklin held HR leadership roles at Juniper Networks and spent 4 years in consulting at Mercer. Alongside Franklin, Compa CTO Joe Malandruccolo spent 6 years in engineering at Facebook and Oculus, and Compa co-founder Taylor Cone spent 7 years in innovation consulting, including at the Stanford d.school.
We started Compa to make compensation fair and competitive for everyone, beginning with offers. Compa helps talent acquisition teams close more candidates with “deal desk” software. By connecting with your applicant tracking system, Compa enables powerful real-time offers intelligence and custom-tailored compensation strategies, automatically. Compa gets smarter as you go, helping you win more offers the right way. Get started at www.trycompa.com.
About Base10 Partners
Base10 is a San Francisco-based venture firm investing in Automation for the Real Economy. Founded by Adeyemi Ajao and TJ Nahigian, the firm focuses on Automation impacting many sectors of the Real Economy, including transportation, hardware manufacturing, logistics, and construction. Portfolio companies include The Pill Club, Chili Piper, Popmenu, and Pangaea. Base10's Advancement Initiative is a first-of-its-kind venture fund that donates 50% of profits to America's Historically Black Colleges and Universities. The Advancement Initiative invests in leading pre-IPO companies including Brex, Plaid, Attentive, and Nubank. Connect via base10.vc.
Kelsey Cullen, KCPR