Compensation data platform Ravio has raised a £9m Series A funding round to modernise how companies manage compensation with real-time market data and decision making tools.
With the investment, the London-based FinTech will continue to grow its dataset with expanded regions and industry coverage, develop advanced market insights including new hire benchmarks and predictive analytics, along with investing in best-in-class tools for efficient compensation management.
The round was led by US-based Spark Capital with participation from Blackbird and Cherry Ventures.
Ravio counts leading consumer brands like Just Eat Takeaway and Octopus Energy among its customers, alongside fintech leaders such as Wise, Adyen, and Mollie.
Popular tech names including Zoopla and Skyscanner have also chosen the business to set their compensation strategies.
“The idea for Ravio was born from running compensation reviews during the early days of building Deliveroo,” said Vaso Parisinou, CPO at Ravio.
“We were scaling rapidly, and it was painful finding data from relevant companies. I was building bands across countries, ensuring my data reflected the current market, and trying to fill in gaps for remote markets. It was impossible.”
Merten Wulfert, co-founder and CEO of Ravio, continued: “Market data hasn’t kept pace with today’s dynamic market.
“We’re bringing decades-old survey methodology into the modern age by plugging directly into our customers’ HR systems. This approach automates the data collection process and lets us continuously analyse market movements as they happen.”
Ravio’s platform delivers relevant market data across 46 countries and over 100 roles, helping companies make informed decisions quickly.
Alex Finkelstein, general partner, Spark Capital, added: “We’re excited to double down on our previous investment in Ravio by leading their Series A.
“Getting compensation right is challenging for companies of any size and industry. We believe Ravio is positioned to become the industry standard for real-time compensation data.”