Investment Rationale · Andreessen Horowitz
Investment thesis
Pave has the opportunity to own the compensation and employee rewards category similar to how LinkedIn owns recruiting data and software.
Similar to how LinkedIn owns the world of recruiting by owning the online resume data and recruiting workflow software, we believe Pave has the opportunity to own the world of compensation, employee rewards, and beyond.
Why the firm invested
Andreessen Horowitz led Pave's Series A financing round.
We’re thrilled to be partnering with Matt and team, and to lead Pave’s Series A.
Product
Pave provides a suite of real-time tools that helps companies plan and communicate total compensation.
one company clearly surfaced to the top – Pave (formerly Trove), which offers a suite of real-time tools that helps companies plan and communicate total compensation.
Pave serves as a single source of truth for CHROs to conduct merit cycles and scenario planning, while enabling employees to visualize compensation evolution.
Today, Pave offers a single source of truth around compensation data for CHROs to do merit cycle and scenario planning, and for candidates and employees to visualize how their compensation evolves over time.
Pave connects via APIs to HRIS, ATS, and cap table software to dynamically provide real-time compensation data.
By simply connecting via APIs to your HRIS, application tracking system (ATS) and cap table software, Pave can dynamically provide access to real-time, contextualized compensation data.
Traction
Customers such as Checkr, Allbirds, Thoughtspot, and Instabase rely on Pave for compensation planning and communication.
Customers like Checkr, Allbirds, Thoughtspot, and Instabase rely on Pave to manage compensation planning and communication.
Pave reduced the time needed to complete a merit cycle by 75-80% for employers.
We heard how it “cut down 75-80% of the time to complete a merit cycle,” how some candidates viewed their offer letters in Pave “up to 10 times a day as they evaluated their offers.”
What founders can learn
- What actually moved the decision: Andreessen Horowitz wrote that Andreessen Horowitz led Pave's Series A financing round.
- The traction evidence that carried weight: Andreessen Horowitz wrote that Customers such as Checkr, Allbirds, Thoughtspot, and Instabase rely on Pave for compensation planning and communication.
Source and provenance
Investment Rationale published by Andreessen Horowitz on a16z.com (first-party source). Read the original
