New Unicorn: Pave

June 29, 2022
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The young company Pave, founded only 3 years ago, was able to rise to the rank of unicorn during its series C on Tuesday, June 28.  This round of funding brought together 10 investors, the main one being Index Ventures. Result: 100 million dollars raised for a capitalization of 1.6 billion dollars.

What is Pave?

Today, paying employees or offering a job to a candidate contains several issues. The methods are numerous, whether through salary, bonuses or potential promotions. In addition, in order to differentiate yourself from other companies, you need to have an idea of the market prices but also of the salary grids according to diplomas and skills. Then, for financial purposes, it is necessary to know the resources that are administered in recruitment and to have an overview of current and future salaries.

Pave helps to solve all these problems with its software with various tools that advise on the amounts to allocate for each problem but also allows to have more quantified data to help the decision.  Numerous features are also available as well as measurement tools that allow to increase the merit pay according to the employees' achievements. In addition, Pave also allows you to have a global idea of the amount of money received by the employee over the whole year with all the side benefits. Usually, people have a biased view of their income by only taking into account the fixed salary, it is an asset to be able to communicate the total amount for a company.

HR's : The will to optimize

Many unicorns work in the field of human resources, Pave is the 40th. Most of them have the common point of being specialized in optimization. But if many are more in the consulting or recruitment assistance, for Pave, it is data that are put at the service of decision making directly by the company itself. This allows for a more optimal payroll and therefore avoids the money that can be lost through more "traditional" payroll methods.

By
Dorian
Analyst
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