SEATTLE, May 15, 2020 Syndio, a leading HR analytics platform with a mission to eradicate pay disparities, today announced it has raised $7.5 million in Series A funding co-led by Emerson Collective and Voyager Capital, with participation from existing investors Sirius, Contour Venture Partners, and Frontier Venture Capital.
Syndio provides the only data-science powered software to enable companies to analyze and resolve pay gaps due to gender, race or other comparisons, and stay in compliance over time. Its platform is used by leading global companies and standards were consulted with the National Women's Law Center (NWLC), a U.S. non-profit organization that advocates for women's rights through litigation and policy initiatives.
"Syndio has been at the forefront of helping progressive companies compensate, reward, hire and retain talent based on fairness," said Syndio Chief Executive Officer Maria Colacurcio. "As the COVID-19 pandemic impacts workforces while raising legal risks for employers, having the expertise, financial support and resources of Emerson Collective and Voyager Capital will enable us to execute our vision even more rapidly and broadly during this dynamic time."
"History shows that economic crises exacerbate workforce inequities. But pay equity should not have to take a timeout during downturns," said Fern Mandelbaum, Managing Director, Venture Investing, Emerson Collective. "Maria is an outstanding leader who is matching powerful insights with action to accelerate solutions for building equitable, more inclusive workplaces."
"Within the HR analytics space, Syndio is in a class by itself. They have a data-driven platform built on a foundation of data science and predictive modeling which is totally differentiated from any other solution today. With a growing portfolio of leading customers, Syndio is on track to be the leader in this marketplace," said Diane Fraiman, Managing Director at Voyager Capital. "With our focus on fueling innovation in the Pacific Northwest, Seattle-based Syndio is right in our wheelhouse."
Syndio was co-founded in late 2016 by former professor and MIT PhD, Zev Eigen, who serves as the company's Chief Science Officer. Eigen's visionary approach to solving workplace problems with technology is central to Syndio's continued success. Colacurcio joined as CEO in 2018. Before that, she co-founded Smartsheet.com, a work collaboration tool for companies of all sizes. She has a proven track record of building successful companies with strong core values that are dedicated to its people and customers.
Syndio is leading the way in fair pay as the world's best HR analytics platform to offer global organizations a way to analyze pay issues based on race and gender; resolve those issues; and monitor compliance over time. Syndio offers a suite of innovative tools and services to help companies pay fairly, including a staffing feature that calculates a safe range for new hires to maintain overall equity. Syndio is a distributed company with headquarters in Seattle.
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