# CinderTech

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cindertech

- Industry: Software
- Headquarters: New York, US
- Website: www.protiv.com/
- Total disclosed funding: $13M
- Latest round: Series A (Dec 8, 2022)
- Investors on record: 3

## About

Based in New York, US, and co-founded by Michael Fortinberry (CEO) and David Franco (CEO) in 2020, Protiv Inc. operates as a software-as-a-service (SaaS) company offering a platform in which users can automate their payroll management and other personnel management services. In December 2023, the firm raised USD 2.3 million in pre-seed funding co-led by investors Las Olas Venture Capital and Lightbank, with participation from other investors Parameter Ventures and Early Light Ventures.

The company through its platform ProPay job offers an incentive program designed for hourly workers, to enhance the way they earn by providing automatic bonus pay and increasing their hourly wages while driving overall company performance, based on safety, quality, and productivity. Employers benefit from improved gross margins and heightened worker engagement, leading to enhanced productivity and profitability. Protiv’s platform integrates into existing workflows, with bonuses distributed alongside regular paychecks, unlimited worker incentives, live agent support, and full reporting and analytic tools.

The firm generates revenue by offering its platform on a subscription basis under different plans such as the Premium plan at USD 12 per worker per week.

The company plans to utilize December 2023 funding to develop additional product features and expand its go-to-market program.

## Funding rounds

- Series A, Dec 8, 2022, $13M — Accel, Y Combinator, J2 Ventures

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A
- J2 Ventures (https://capitalatlas.ai/funds/j2-ventures) — Series A