London -based RobiA fintech startup that creates a real-time view of the market for what the role is being provided for various jobs, which companies have raised a fund to modernize how real-time markets handle compensation with decision-making equipment.
This round is run by Spark Capital with the participation of Blackbird and Cherry Ventures.
“Market data did not match today’s dynamic market“Said Washing up marchingRobo’s co-founder and CEO. “We are plugs directly to our customers’ HR systems and bring decades old survey method in the modern age. The data collection process of this method automated the process and lets the market movements analyze as it happensThe “
Established in 2022, Robi also provides data and equipment to gain confidence in the company’s compensation. Real-time market provides insights and modern compensation operating software, RVO helps forward-thinking businesses to avoid ‘compensation debt’, which occurs when salary practice goes out of alignment with the realization of the market.
Robi also calculates consumer brands like Just It Takeway and Octopus Energy, as well as fintech leaders like Wice, Aden and Moli. Names like Jupla and Skyscaner have also chosen RVO to determine their compensation techniques.
“The concept for Robio was born from the run of compensation reviews on the first days of the delivery building“Said Parisinheed vaseChief People Officer in Robio. “We were scaling fast, and it was painful to find data from relevant companies. I was making bands across the country, confirming my data reflect the current market and trying to fill the gaps of remote markets. It was impossibleThe “
According to Robio’s data, despite the percentage of operating expenditures represented 5%, most companies make this important decision using it “Pachy“Data 12-18 months old. Ravio believes that this approach creates significant problems:
- Leave talent during low wages than the current market rate
- Agencies depend on some roles when struggling to attract talent in others
- New rentals and existing staff develop pay discrimination as well as operating from different reference points
This year, 100 to 250 employees used Robio to convert their compensation strategy to a German SAS company Hero Software. “When we made salary bands using Robio, we could immediately see a few outliers – it was easy to identify pay equity problems“Explained Ana-Lala GrimHero A People and Culture Director.
Robi’s platform provides market data throughout 46+ countries and 100+ role, helping companies to make quick informed decisions.
Robi users can connect the data via API to their HR software, which is later anonymously combined with a market-level standard with a Give-to-Gate model. Then they can compare their salary, equity and benefit packages in today’s market – with headcount, fund level and art filters.
“Access to Ravio’s Live Market Data means no longer headache from delayed data sets or age compensation data“Explained Jodi slompVP guy in Moli. “Robi also provides real-time data with amazing visualizationThe “
“All I like about Robio is the ability to track what is going on in today’s market“Said Evert DutchSenior compensation manager in Bolt. “Now, we can benchmark against the current market rate in real-timeThe “
With the Funding in the series, Robi will also continue its international expansion to assist in access to the modern equipment needed to deploy competitive salary strategies to the leaders of the compensation award.
“After supporting 1,200+ companies, we see how compensated leaders are kept in a tight position with insufficient data and old equipment“Said Raymond SimsChief Product and Technology Officer in Robi. “Our customers have created what we need: Real-time insights and decision-making equipment without a painful or time-consuming admin. Our mission is to give the compensation teams the ability to lead with the right, defenseable data in every conversationThe “
Robi also planned to use new funds:
- Continue to increase a broad datasate with expanded zones and industrial coverage
- Develop advanced market insights with new rent benchmarks and predominant analysis
- Invest in best-class tools to manage efficient compensation
“We are eager to double our previous investment in RVO by leading their series A“Said Alex Finalsstine At Spark Capital. “Challenging for any size and industry agencies that get compensated rights. We believe Robio has become the standard of art for real-time compensation dataThe “
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