Shen backs compensation data firm Pave in $16M Series A round
Andreessen Horowitz’s Kristina Shen joins the board of Pave after backing the provider of compensation tools that she says “has the opportunity to own the world of compensation, employee rewards and beyond.” Andreessen Horowitz led the San Francisco company’s $16 million Series A round, which also included Bessemer Venture Partners, Bezos Expeditions, Dash Fund and Y Combinator.
Formerly known as Trove, Pave is seeking to update the process of acquiring and analyzing compensation and equity benchmarking data. Rather than manually uniting data from several sources, Pave will pull insights into one automated platform. The company is launching a compensation data survey with a group of venture firms, including Andreessen Horowitz, New Enterprise Associates, Redpoint Ventures and Y Combinator. Portfolio companies will be able to opt into the company’s survey via one-click HR integrations, unlocking access to compensation benchmarking, merit cycle planning and total rewards communications tools.
In a statement, Kristina said that Pave “is transforming how companies visualize (compensation) data while empowering employees to decipher the ins and outs of their equity compensation.”
Earlier this year, Kristina led Andreessen Horowitz into Mux, a video platform for developers. Kristina joined Andreesen Horowitz as a general partner a year ago from Bessemer Venture Partners.