Welcome Raises $6M to Help your Company Hire and Keep Employees

  • 14th Dec'20
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Welcome is an HR software company that helps organizations to make and close offers to their potential employees. It helps employees understand their total compensation(cash, equity, benefits, and perks) in a way that makes sense to them.

On August 19, 2020, Welcome was launched with a funding of $1.4 million.

It is the first offer management and closing company founded by Nick Gavronsky and Rick Pereira. It is funded by a variety of investors like Ludlow Ventures, Weekend Fund, Shrug Capital, Basement Fund, Global Founders Capital, Basecamp Fund, and several others.

 

On December 2, 2020, Welcome announced a close of $6M seed round which was led by FirstMark Capital along with other participating investors like Ludlow Ventures, Nat Turner and Zach Weinberg, and Keenan Rice and Ben Porterfield (which were existing investors) and few more.

Apart from the “Welcome raises $6M capital” announcement, they also launched a new product Total Rewards and early access to their real-time compensation data products.

 

To read the official announcements, refer to the below-given articles:

Introducing Welcome: Bringing the offer, closing, and compensation data experience out of the dark ages for HR teams and candidates

Click here to read the Welcome launch announcement

Announcing our Seed round led by FirstMark Capital to scale our total rewards platform for HR teams

Click here to read the $6M capital raised announcement 

 

Welcome says that they'll be using this funding on the development of products and hiring employees for their company.

 

Let's see what will these products do:

 

Total Rewards

Total Rewards is a product that organizations can use to help employees visualize and understand their financial relationship with the Company as a part of the performance review process. This is expected to help them with ongoing retention.

 

Picture Courtesy: Welcome

They've been testing their total rewards product with a selected group of customers and expecting to hand it out to more companies as they're entering into the end of year performance review season.

 

Real-Time Compensation Data

Real-Time compensation data is an accurate and reliable product that will help HR teams to figure out what to offer candidates and how to compensate their team as they grow- and improve pay equity in the process.

Currently, they are running an invite-only program around real-time compensation data that they will be releasing to the public in the first half of 2021. 

 

Picture Courtesy: Welcome

 

Welcome says, “Companies that participate and integrate their compensation data will get early and free access to our compensation data products. The first 100 companies that sign up will get skip the line access to our total rewards platform and the first year free for our compensation data products.”

To sign up on Welcome, click here

 

Welcome is now, the first closing and total rewards platform for HR teams.

 

Let us know your views about this in the comments below

 

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We, at OpenGrowth, are continually looking for trending startups in the ecosystem.  If you want to know any further information about the startup ecosystem or have any mind-boggling ideas, do refer to the other blogs at OpenGrowth. If you have any suggestions, do let us know in the comment section below.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Ayushi Vanzara, OpenGrowth Content Team

Ayushi is currently pursuing Chartered Accountancy. No secrets there that she loves to read!  She believes words have the power of healing and is a medium that can convey like no other. She hopes to connect with people through her empathy, thoughtfulness, and by adding value to their lives.


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