HireSure, an HRtech firm, said it raised $2.5 million in seed funding led by YCombinator and Binny Bansal’s Three State Capital. San Francisco-based Tribe Capital and Pioneer fund also participated in the round.

The company plans to use the funds to strengthen the community, build new products and primarily scale up the engineering and product teams for product development. The platform will transform the way pay processes are managed in companies, to drive a higher fairness quotient among employees.

The company has also announced the launch of CompUp which is a full-stack compensation management platform that brings together all the compensation data and insights into one place. This will be used by companies to compare, strategise, and communicate ‘Total rewards’ to their employees, and candidates.

“We believe that this problem of pay disparities can be solved only when companies come together to democratize access to real-time compensation benchmarks. This is the reason why ‘Total Rewards’ leaders of funded startups are coming together to form an invite-only community, with us” said Anurag Dixit, Co-founder of HireSure.ai.

Founded in 2019 by three graduates from IIT Kanpur -Dixit, Anshul Mishra, and Ramesh Konatham, the startup uses real-time compensation benchmarking data to help companies make more efficient compensation decisions and eliminate pay disparities.

HireSure said it aims to achieve pay parity by helping companies leverage data to make scientific and fair people decisions starting with compensation.

“As of now, compensation data is sitting in silos in multiple systems. Our product CompUp aggregates compensation data from multiple systems and comes up with insights to make better compensation decisions,” said Anurag. “More than half of the world’s GDP is salaries. Yet there is no full stack solution to provide real-time compensation benchmarks, insights and also enable companies to make data-driven compensation decisions for their employees.”

For HireSure, India is also the largest market for skilled workforce globally with market size worth $3billion growing at a CAGR of 22%. The company has currently partnered with over 200 funded startups in India including Meesho, Slice, Dream11, Apna, Porter, Dunzo, Khatabook, and Rapido.

The aim is to partner with about 800 startups by the end of 2023 and will then expand our offering to Southeast Asia and Middle East.

The company has also appointed Satheesh K V, cofounder Spottabl, and former Senior Director HR at Flipkart on its advisory board members.

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