![]() ![]() ![]() Ravio’s platform gives a measure of transparency to the industry: the platform allows startups to look at salaries at the individual, job type and compan y level and compare them to peers in the market. ![]() “There’s research showing that men tend to negotiate more than women, which contributes to gender pay inequality and general unfairness inside businesses.” “In my opinion, the people that negotiate best get paid the most,” says Wulfert. which contributes to gender pay inequality and unfairness inside businesses” “The people that negotiate best get paid the most. The company also hopes that building a salary dataset will solve pay inequality. Its platform integrates into companies’ HR systems via an API, pulls out the stats and then publishes onto the platform so that startups can see “what’s happening in the market live”. Part of Ravio’s USP is its ability to offer real-time data. The question of how to attract and retain quality talent is plaguing tech companies all over the world, which is why it’s crucial for startups to get compensation right.īut with tech salaries increasing at “really unprecedented rates, sometimes double digits in the matter of a few months”, it can be hard for startups to keep a “pulse on the market”, says Wulfert. “But, starting today, we are going to have a few weeks of collecting data and, once we’ve reached critical mass, we’ll open up the platform.” Getting up to speed “Today we don’t have enough users, which is why we haven’t launched our analytics part of the product yet,” he adds. “It’s kind of like a give to get,” explains Wulfert. To use Ravio’s platform, companies contribute their data and in return get access to the aggregated data of all participating companies. To have a big impact, Ravio needs to add users to its platform quickly so it’s got enough data to benchmark - something Wulfert describes as a “cold start problem”. Wulfert and Blanga will operate as Ravio’s co-CEOs - a leadership model best adopted when two people have had many years working together, says Wulfert - while Siems will be the company’s chief product and technology officer, a role getting more popular among European startups. Wulfert’s cofounders are Roy Blanga, the former COO of Deliveroo who he worked with for seven years, and Raymond Siems, who cofounded Genie Delivery, a speedy grocery startup acquired by its then competitor Dija. The startup has been operating in stealth since January but today announced a $10m seed round led by Northzone, which has backed unicorns such as HR tech Personio and mobility giant Tier, with participation from Cherry Ventures and Spark Capital. Its platform offers data on salary, equity and benefits. His new startup Ravio aims to give companies access to market benchmarks and compensation analytics to help them offer fair packages. Things haven’t changed much since - but Wulfert thinks he’s found a solution. That meant that Deliveroo missed out on key hires by failing, unknowingly, to offer competitive salaries. “Really, we were making decisions almost blindly.” They also made use of reports from compensation benchmarking providers such as Radford and Mercer - but they were often difficult to understand, focused on salaries paid by large corporations and costing “upwards of $5k” per country, he adds. “We had no data to help us figure out the right compensation and it was a huge issue” ![]()
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