Figures, a Paris-based compensation benchmarking application, reported on Wednesday that it has gotten €6.8M in the Seed round of subsidizing.
Seed-stage financial speculators Point Nine drove the round with cooperation from existing financial backers like Seedcamp, Bpifrance, Kima Adventures, and new members Acadian and Entrée. Figures’ past subsidizing round was driven by Seedcamp in 2021, raising €1.7M.
The declaration comes two or three months subsequent to obtaining its London-based rival Payspective in June 2021 to take action into the UK market.
Reserve usage
Figures will utilize the assets to speed up tech improvement, plans to expand its transmit with administrations including financial plan anticipating and constant market following, and reinforce benchmarking administrations, covering offers and advantages.
The French organization likewise plans to put resources into creating devices that will help organizations characterize and share their pay strategy and get ready and run their pay surveys.
The capital will assist the French organization with venturing into new European business sectors, including Spain, Portugal, the Netherlands, and the Nordics.
How was Figures conceived?
Virgile Raingeard (President), who went through his initial eleven years working in the HR area of different ventures, got disappointed with the absence of subjective and dependable information on the remuneration market in the startup/increase environment.
Then he chose to resolve the issue with Bastien Formery (CTO) to make an item around his vision.
Hence Figures was conceived.
Figures President, Virgile Raingeard, says, “I made Figures in October 2020 to give organization pioneers solid remuneration information and an all-encompassing item that I would have wanted to have during my 11 years of profession in HR.
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Figures: What you want to be aware
Established in 2020, Figures means to further develop how organizations oversee pay for their staff. The stage permits organizations to benchmark market pay rates on north of 100 jobs across Europe while overseeing remuneration strategy.
Figures says it is additionally assisting feature orientation with paying issues and permitting organizations to deal with their compensation spending plan better.
The brand is now deeply grounded in numerous different nations, including France and Germany, assisting them with making the most dependable compensation benchmarking framework at present in activity.
The organization’s application can be effortlessly coordinated with major HRIS programming like Personio, BambooHR, and HiBob, permitting organizations to adopt a proactive strategy toward ability obtaining and maintenance.
Figures’ answer is utilized by around 700 European new businesses/scale-ups to help managers benchmark pay for explicit jobs at various organization sizes and stages.
Raingeard adds, “We’re assisting north of 700 organizations with pursuing fair and productive pay choices, up from under 200 to begin the year. Our development has been surprising and outstanding, somewhat because of our obtaining of Payspective back in May 2022.”
Figures’ development in the Netherlands
To get familiar with the Netherlands’ development and methodologies, we contacted Hakon Junge, GTM and country lead for the Dutch market.
Talking solely to Silicon Trenches, Junge says, “With the financing, we intend to begin fabricating a little however developing devoted group for the Dutch market as we proceed with our extension plans across Europe. We’ve proactively begun recruiting locally in Amsterdam.”
At the hour of composing this article, Figures is employing for an “Record Chief” to help the rising interest.
Junge, on the significance of the Dutch market, makes sense of, “The ongoing Dutch market was an unmistakable region for extension for us as the tech environment has been prospering yet additionally admittance to remuneration information to help employing has been a major battle for neighborhood new companies to get pay right particularly in the ongoing business sector nearby and with expansion.”
The organization professes to have north of 50 clients in the Netherlands since its send off two months prior. The French SaaS organization works with new companies like Mollie, Biller, Orderchamp, and Trengo and neighborhood startup biological system accomplices like Techleap.nl.
He proceeds, “I personally lead our Dutch endeavors and GTM extension plan, and right off the bat, the reaction from the Dutch market has been predominantly certain, so we’re multiplying down our endeavors.”
As per Junge, Figures is adding about 10 Dutch new businesses/increase organizations to the Benchmark each week, offering them a year of access FREE to Figures.
On September thirteenth, Figures is facilitating its most memorable lead occasion in Amsterdam, “Shutting the hole: Making compelling associations with Fair Compensation for all.”
Financial backer
Point Nine is a beginning phase funding firm centered around B2B SaaS and online commercial centers. Since its commencement in 2011, the firm has put resources into in excess of 140 new companies in excess of 30 nations.
Louis Coppey, Accomplice at Point Nine, remarks, “At Point Nine, we’ve put resources into numerous HR tech programming throughout the course of recent years, for example, 15five in 2013, Factorial in 2018, or Pento in 2019. Regardless of the subsidizing and the ability market climate, we accept remuneration the board is a class in HRtech that is ready for disturbance, and Figures has a headstart in the European market. We’ve been generally dazzled by Virgile and his group’s profound skill in the point and particularly anticipate collaborating with them as they upset the occupants with an information driven, programming first methodology.”
