Ravio has closed a $12 million Series A funding round, led by U.S.-based Spark Capital with support from Blackbird (Australia) and Cherry Ventures (Europe). The company is on a mission to modernize how organizations manage employee compensation by offering up-to-date market data and smart tools for decision making. The investment will help scale its real-time compensation intelligence platform.
The platform is already trusted by an impressive roster of companies. Clients include household names such as Just Eat Takeaway, Octopus Energy, fintech giants like Wise, Adyen, and Mollie, as well as technology leaders Zoopla and Skyscanner. These companies rely on Ravio to design and manage their compensation structures with accuracy and speed.
Ravio tackles a critical issue in HR: outdated and incomplete pay data. Despite compensation accounting for the majority of operational costs, many companies still depend on information that’s over a year old. This gap often leads to talent attrition, inefficient spending on salaries, and inconsistencies between new hires and existing team members. "The idea for Ravio was born from running compensation reviews during the early days of building Deliveroo," said Vaso Parisinou, Chief People Officer 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.”
"Market data hasn't kept pace with today's dynamic market," said Merten Wulfert, co-founder and CEO of Ravio. "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."
“When we built salary bands using Ravio, we could immediately see a few outliers – it was easy to spot pay equity issues,” noted Anna-Lena Grimm, Director of People & Culture at HERO.