Ravio Funding News- London-based Ravio Raises $12Mn In Series A Round

Ravio points out that salaries often make up over 75% of a company’s costs, but many businesses rely on outdated data—often 12 to 18 months old—when setting pay. This can lead to problems like underpaying employees, unfair pay differences between new and existing staff, and a wider gender pay gap.

Ravio’s latest data shows that the average pay gap between men and women in European tech is still 24% when not adjusted for job type or location

.“Without benchmarking, companies operate in the dark. There’s less consistency, less awareness of where change is needed most, and progress can’t be championed or celebrated as effectively,” Raymond Siems, Ravio’s cofounder and CPTO told Sifted.

Ravio was founded in 2022 by entrepreneur Siems and former Deliveroo managers Roy Blanga and Merten Wulfert, who now serve as co-CEOs.

Wulfert faced the challenge of setting fair pay while at Deliveroo, where the team grew rapidly from 30 to 1,000 people in a year. With no up-to-date data, it was tough to set fair salaries.

Ravio was created to solve this issue. It offers companies real-time market data and tools to manage salaries, benefits, and equity fairly. The platform uses data from 46 countries and over 100 job roles, allowing businesses to compare compensation at different levels. It also helps streamline pay structures and manage salary review processes.

Ravio says it has grown its annual recurring revenue (ARR) by 400% in the past year through its subscription model. It now serves 1,200 customers, including big names like Just Eat Takeaway, Octopus Energy, Wise, Adyen, and Mollie.

The company faces strong competition from traditional pay consultancies like Mercer, AON Radford, and Willis Towers Watson, as well as newer startups like Figures and Compete. HR tech companies like Lattice are also entering the compensation benchmarking space.

Ravio plans to use its new funding to grow its data coverage, focusing on more regions—especially in Europe—and expanding into sectors like fintech, biotech, cybersecurity, and AI.

About Ravio

Ravio is a London-based company started in 2017. They offer a platform that helps tech companies compare and improve their pay and benefits. Using real-time data and tools, businesses can see how their compensation stacks up against others in the market.