BetterComp Raises $33M to Modernize Compensation Tech for the Enterprise Age

In a world where employee compensation eats up as much as 70% of operating costs, it’s baffling how outdated most comp tools still are. BetterComp, a fast-rising player in compensation management software, wants to change that—and now it has $33 million in fresh backing to do so.
The Series A funding, led by Ten Coves Capital, marks a pivotal moment for BetterComp, which has bootstrapped since its 2019 founding. The investment will accelerate product innovation, deepen its AI-powered market pricing and pay recommendation engine, and support global expansion. For large enterprises still juggling spreadsheets or clunky legacy platforms, that could mean a much-needed tech upgrade.
Modern Compensation, Finally
Unlike traditional compensation systems—often bolted together with decades-old code—BetterComp was built with today’s complexity in mind. Think hybrid workforces, real-time market shifts, and ever-changing pay equity regulations. The platform offers automation of manual tasks, smart data normalization, custom formulas, and a policy-first framework for communications.
In short: it makes comp planning less of a time suck and more of a strategic advantage.
“We founded BetterComp to bring to compensation what SaaS tools brought to HR: agility, accuracy, and actual usability,” said CEO and co-founder Alan Miegel. “This capital validates that vision and sets us up to scale faster.”
That vision appears to be resonating. The company has seen 100% year-over-year growth for the past two years, with 38% of its customer base now Fortune 500 firms. Headcount is up 33% in 2025 alone.
The AI Angle
BetterComp’s use of AI isn’t about flashy buzzwords—it’s applied where it counts. The platform helps comp teams make smarter, faster pay decisions by analyzing internal and external data trends, delivering recommendations grounded in compliance and business strategy.
The timing couldn’t be better. With the rise of pay transparency laws and a renewed push for equitable compensation, HR and comp teams are under pressure to get pay right—and justify it. BetterComp’s tools aim to meet those demands head-on.
A Quiet Market Ripe for Disruption
While HR tech has seen a flood of innovation over the past decade—from recruiting platforms to performance review tools—compensation has been the awkward stepchild of digital transformation. That’s starting to change, and BetterComp is positioning itself to lead.
“The market is wide open,” said Steve Lula, Partner at Ten Coves Capital. “Compensation is one of the last major functions in the enterprise HR stack still largely untouched by modern software. BetterComp is poised to dominate that space.”
Competitors like Payscale, Salary.com, and Radford (via Aon) may still lead on legacy market data, but BetterComp is banking on flexibility, automation, and transparency to leapfrog ahead—especially in enterprise environments where customization and speed are essential.
What’s Next?
Armed with fresh capital, BetterComp plans to grow beyond compensation planning into adjacent areas like workforce analytics and pay equity modeling. The company also hinted at expanding integrations with HRIS and HCM platforms to create a seamless data ecosystem for enterprise clients.
As comp professionals face growing pressure to deliver fair, fast, and data-backed pay structures, BetterComp’s modern approach may become more of a necessity than a nice-to-have.