The funds are expected to accelerate growth initiatives including the development of new data and software solutions for the HR market.
On April 24, PayScale, Inc., the leader in cloud compensation data and software-as-a-service (SaaS) for businesses and individuals, announced that an affiliate of Willkie client Warburg Pincus has agreed to make a majority investment of up to $100 million to recapitalize the company and to fund growth initiatives. The funds are expected to accelerate growth initiatives including the development of new data and software solutions for HR market. Seattle-based PayScale offers its customers the world’s largest database of individual compensation profiles, containing more than 40 million salary profiles. More than 3,000 of its enterprise subscription customers in 13 countries rely on the company’s products to make salary decisions for more than two million employees.
The deal was handled by partners Robert Stebbins, Robert Langdon, Jordan Messinger, Hillel Jacobson and Christopher Peters, and associates Andrew Prodromos, Anne Barrett, Ryan Stott, Danielle Clout and Amir Ghavi.