Seattle startup Syndio raises $17.1M as demand spikes for HR software that helps identify pay gaps
/Syndio, the Seattle startup that works to eliminate gaps in pay equity, has raised $17.1 million in new funding, the company announced Thursday.
The new investment, led by Bessemer Venture Partners, comes just eight months after Syndio raised $7.5 million in a Series A round in May 2020.
“We have seen incredible demand in 2020, and this investment gives us the ability to innovate faster, creating new products that address some of the most difficult and embedded problems organizations face,” Syndio CEO Maria Colacurcio said in a statement.
The startup’s so-called EquityTech analytics software, and flagship product PayEQ, analyzes salaries, rooting out discriminatory differences in pay that are tied to gender, race, ethnicity or age while providing strategies for fixing those disparities. Syndio says more than 100 companies, including Nordstrom, Salesforce, Slack, Adobe and others, use the product across 2.3 million employees.