Syndio raises $7.5M to squash pay gaps; CEO says COVID-19 crisis puts women and minorities at risk
/Seattle startup Syndio just raised a $7.5 million investment round to bolster its HR technology that helps companies maintain equal pay and eliminate disparities.
Syndio CEO Maria Colacurcio said the COVID-19 pandemic has increased the risk of pay equity because “when survival is priority No. 1, fairness takes a back seat.” She pointed to the impact on the lowest paid workers, as well as women whose “careers and pay are suffering even more” as the primary caretakers at home.
“Many companies are not considering pay equity impacts as they reduce their workforce, nor are they looking at the makeup of those who remain, which means we could widen the gap,” Colacurcio said. “When we emerge, have we set women and minorities back 50 years?”