With $6.5 million in funding from Crosslink Capital, Upfront Ventures, 500 Startups and others, Comparably is launching a platform for employment and salary information.
The Santa Monica-based startup says its site will make it easier to find whether or not your salary is competitive amongst industry peers with the same level of experience. The self-reported data can also be sorted by gender, helping to highlight pay discrepancies.
“We’re going to have the most robust and comprehensive tool to really see how compensation breaks down,” CEO and co-founder Jason Nazar tells TechCrunch. Nazar previously founded Docstoc, which was sold to Intuit. Comparably also wants to “be at the forefront of being able to publish data around the gender pay gap.”
In addition to gender and years of experience, compensation data based on region and company size will also be included. There is also information about startup salaries based on how much venture capital has been raised.
“We all know that the old school data companies that provide data for this are very inaccurate,” said Eric Chin, partner at Crosslink. Chin said he invested in Comparably because he believes in the team and also because he believes “the whole HR recruiting and talent space has major opportunity for disruption.”
Chin feels that Comparably will not only take on Glassdoor, but also LinkedIn someday. LinkedIn has “only tapped into a small percentage of the market share,” Chin claims.
Glassdoor and LinkedIn have been more successful at monetizing than many other Internet companies. Job seekers and recruiters are willing to fork over a lot of money for a platform that matches candidates with the right opportunity.
LinkedIn has struggled in the public markets in recent months, but it is still a $16 billion company. Founded in 2008, Glassdoor is still private, but is said to be considering an IPO for this year.
“We can make something dramatically better,” than what else is out there, said Nazar.