OpenComp
Latest round
- Series A
Last raised
- Feb 2022
Total raised
- $25M
Investors
- 7
About OpenComp
OpenComp LLC, founded in 2019 in San Francisco, US, offers advanced compensation management software that aids businesses in optimizing their payroll processes. The company has successfully closed a total of 2 deals to date, with the most recent deal occurring on February 24, 2022.OpenComp offers a comprehensive suite of compensation management software designed to streamline and enhance the payroll decision-making process. Their core product, Comp Decision Software, integrates actionable compensation data and intuitive decision tools to facilitate various aspects of compensation workflows, including merit cycles, pay strategy, benchmarking, and pay equity analysis. The platform allows companies to access continuously updated global compensation data, enabling informed pay decisions based on reliable, crowd-sourced information. OpenComp's solutions serve a diverse clientele across multiple industries, with a particular emphasis on markets in North America and Europe.OpenComp generates revenue through a subscription-based model, where clients pay for access to their compensation management platform. The pricing structure typically involves tiered subscription plans that cater to different organizational needs. These plans provide a scalable solution suitable for companies of various sizes, including features such as global compensation benchmarking, merit and bonus cycle management, and pay equity analytics. Transactions primarily occur in a B2B context, where clients engage with the platform to refine their compensation practices and enhance employee satisfaction. The funds will support enhancements to their go-to-market strategy and the recruitment of engineering talent. The company is in the process of developing new products aimed at improving its service offerings and plans to expand into additional markets beyond North America and Europe in the coming years. Specific timelines for new product launches and geographic expansions will be critical as OpenComp continues to grow.
Who invested in OpenComp
7 investors across 2 rounds
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Questions about OpenComp
Who invested in OpenComp?
OpenComp has 7 investors on record across 2 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has OpenComp raised?
OpenComp has raised 2 venture rounds. Sign up free to see how much each round raised and the total.
When did OpenComp last raise money?
OpenComp's most recent round on record is a Series A, in Feb 2022.
What does OpenComp do?
OpenComp LLC, founded in 2019 in San Francisco, US, offers advanced compensation management software that aids businesses in optimizing their payroll processes.
Where is OpenComp headquartered?
OpenComp is headquartered in San Francisco, US.
Which VCs invest in companies like OpenComp?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at OpenComp's stage. Their profiles are linked below.
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