London-based compensation data platform Ravio has raised $12 million in a Series A round, as companies look to modernise how they manage pay transparency and equity in an increasingly competitive global hiring market. The round was led by Spark Capital (US), with participation from Blackbird (Australia) and Cherry Ventures (Europe).
The fresh capital will fuel Ravio’s international expansion, as well as investment into predictive analytics, new hire benchmarks, and compensation planning tools. The company’s broader goal is to position itself as the go-to platform for real-time pay intelligence.
Founded in 2022, Ravio is addressing a long-standing pain point in HR: companies are still making some of their most financially significant decisions - compensation - based on market data that is often 12 to 18 months old. Ravio offers an alternative by integrating directly with HR systems and delivering live compensation benchmarks across more 46 countries.
With compensation often accounting for 70 percent of a company’s operating costs, relying on outdated or limited data can lead to multiple problems: high attrition, inefficient salary allocation, and growing pay inequities.
The platform operates on a “give-to-get” model, where customers contribute anonymised compensation data via API integrations with their HR software. In return, they gain access to real-time salary, equity, and benefits benchmarks that can be filtered by company size, funding stage, and industry.
Ravio has already secured a customer base that includes Just Eat Takeaway, Octopus Energy, Wise, Adyen, Mollie, Zoopla, and Skyscanner.
“Market data hasn't kept pace with today's dynamic market,” said Merten Wulfert, co-founder and CEO of Ravio. “We're bringing decades-old survey methodology into the modern age by plugging directly into our customers' HR systems. This approach automates the data collection process and lets us continuously analyse market movements as they happen.”
“The idea for Ravio was born from running compensation reviews during the early days of building Deliveroo,” said Vaso Parisinou, Chief People Officer at Ravio. “We were scaling rapidly, and it was painful finding data from relevant companies. I was building bands across countries, ensuring my data reflected the current market, and trying to fill in gaps for remote markets. It was impossible.”
“When we built salary bands using Ravio, we could immediately see a few outliers – it was easy to spot pay equity issues,” said Anna-Lena Grimm, Director of People & Culture at HERO Software, a German SaaS company scaling from 100 to 250 employees this year.
“Access to Ravio's live market data means no more headaches from delayed data sets or having to age compensation data,” said Jodi Slomp, VP People at Mollie. Evert Kraav, Senior Compensation Manager at Bolt, added: “What I love about Ravio is the ability to track what's going on in today's market. Now, we can benchmark against current market rates in real-time.”
HRtech is seeing renewed interest, particularly in areas that support compliance, pay equity, and workforce transparency. “We're excited to double down on our previous investment in Ravio by leading their Series A,” said Alex Finkelstein at Spark Capital. “Getting compensation right is challenging for companies of any size and industry. We believe Ravio is positioned to become the industry standard for real-time compensation data.”
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