The funding round also included participation from the San Francisco-based Tribe Capital and the Pioneer Fund.
The cash will be used for product development, hiring talent, and community building at HireSure.ai, a platform that enables businesses to use data to make good compensation decisions.
According to Anurag Dixit, co-founder of HireSure.ai, the technology eliminates judgment biases and minimizes compensation discrepancies. The startup has an advantage over its competitors by being the first to address this issue.
“More than half of the world’s GDP is salaries. Yet there is no full-stack solution to provide real-time compensation benchmarks and insights and enable companies to make data-driven compensation decisions for their employees,” says Dixit.
The company now claims to have 200 startups under its belt. By the end of CY23, the company hopes to have partnered with 800 startups, including Meesho, Slice, Dream11, Apna, Porter, Dunzo, Khatabook, and Rapido. Additionally, it intends to grow in more recent geographical areas, including West Asia and Southeast Asia.
HireSure.ai assist companies in compensating their employees fairly
The startup, established in 2019 by Anurag Dixit, Anshul Mishra, and Ramesh Konatham, uses real-time compensation benchmarking data to assist businesses in determining compensation and removing pay inequalities.
It has released its “CompUp” compensation management tool, which collects all compensation information and insights onto a single platform.
Companies will utilize this to compare, plan, and communicate “total incentives” to their staff members and applicants.
According to reports, CompUp will soon introduce “Compensation Insider,” a community where CHROs (chief human resources officers) and incentive specialists from various industries and businesses may connect to exchange best practices around awards.
By assisting businesses in using data to make rational and equitable hiring decisions, starting with compensation, HireSure.ai seeks to achieve pay equity.
Anurag Dixit asserts that the problem of pay discrepancies can only be resolved when businesses band together to democratize access to real-time compensation benchmarks can the issue of pay discrepancies be resolved.
This is the rationale for the funded startup leaders using the “Total Rewards” model, joining forces with us to create an invite-only community.