Pave acquires Option Impact and becomes the largest real-time compensation dataset in the world
Pave raises $100M Series C and acquires Option Impact, Option Driver, and VCECS from Morgan Stanley
Over the last two years, almost every one of our 2,700 customers has told us that they rely on both Pave and Option Impact to inform their compensation decision making. While we’ve made massive strides within the space here at Pave in the last two years, Option Impact has been the industry standard for startup compensation benchmarking for almost 20 years.
That’s why today, I’m thrilled to announce that in conjunction with our Series C fundraise of $100 million, Pave has closed an acquisition of Option Impact and the broader Advanced-HR product suite from Morgan Stanley. This solidifies Pave’s position as the world's largest compensation database for private companies. Collectively, we now serve more than 5,700 businesses across the globe.
The Advanced-HR and Option Impact network
Over the last 20 years, Advanced-HR built a market-leading network of thousands of private technology companies. These companies rely on the Option Impact survey for data on compensation trends to make competitive compensation decisions. Behind this customer base is an even stronger group of hundreds of VC firms committed to helping their portfolio companies access data.
For decades, Advanced-HR has understood the role that high quality data plays in setting fair and competitive compensation, a vision we share at Pave. Compensation is the last major marketplace without a real-time price, and in the context of increased market volatility, accurate compensation data has only become more important for businesses. Unfortunately, access to this data has always come at a meaningful cost.
Transitioning to the online model of compensation benchmarking
Compensation surveys, Option Impact included, have been characterized by offline spreadsheets uploads, large scale manual data revisions, and a multiple-times-a-year refresh requirement just to maintain access. This pain is no longer needed in a world where data has moved away from offline information silos into the cloud.
At Pave, we spent the last two years building out a suite of 40+ integrations with HRIS, payroll, and equity management systems that connect directly with the source of truth for compensation data. We are thrilled to bring this technology to the Option Impact customer base and ensure that our combined customers will never have to fill out a manual survey again while gaining access to a persistent real-time network of compensation data.
The largest startup compensation dataset
Users will have the opportunity to access datasets from Pave and Option Impact directly within Pave’s Benchmarking product. Additionally, Pave will maintain ongoing support for the VC Executive Compensation Survey (VCECS), international data, and a number of other core features from the Option Impact product. The combined dataset will represent over 465,000 employee data points, making it the largest private company compensation dataset in the world.
We will continue to support the full Advanced-HR product suite. All customers and partners of Option Impact and Option Driver will also have the opportunity to access Pave's Benchmarking product and the combined dataset shortly after launch.
You can learn more about how to get started with Pave here. We are so excited to welcome the thousands of customers and hundreds of partners from the Advanced-HR ecosystem into the Pave community and build towards a better, fairer, and more transparent future for compensation for all.