Compensation management startup Assemble raises $5m seed to make compensation a strategic differentiator

Assemble, a compensation platform for forward-thinking organizations announced a $5 million seed round led by Susa Ventures. Goldcrest Capital and several angel investors participated in the oversubscribed round, including bitcoin investor Anthony Pompliano, former TripActions CPO Leslie Crowe, former Stripe Head of Corporate Finance Stacie Faggioli, and former Palantir CFO Colin Anderson.

Katy Shields, Chief People Officer, DoorDash: "Compensation has evolved in the last 5 years. What was table stakes has become an important vector for companies to authentically differentiate themselves on. Many compensation tools are fractured - handling pieces of the system. Assemble's platform addresses the whole organization, helping leaders make better and more consistent compensation decisions, at a faster clip."

Since taking the platform to market in the spring of 2021, Assemble has seen dramatic growth, growing ARR at almost 50% per month compounded. Over the previous quarter, the company grew ARR 4x and more than doubled its customer base while nearly tripling the ACV (average contract value) for new customers.

Enrique Esclusa, Co-founder, Assemble: "We've seen strong adoption by companies known for their operationally sophisticated People and Finance departments, who not only care about fair and equitable pay, but also want to decentralize decision-making and support sophisticated dynamic planning and forecasting."

Assemble boasts dozens of mid-size to enterprise customers, mostly in the technology industry, including ServiceTitan, Sourcegraph, and Kandji. Customers are increasing spend significantly since adopting the Assemble platform as they expand access of their own compensation strategy and data to more stakeholders to support new use cases and empower better decision making throughout the organization.

Adam Pettit, CEO, Kandji: "Assemble enables us to drive our rapid headcount growth, and has been integral in empowering us to grow Kandji's headcount by 5X in 2021. By providing our leaders with crucial visibility and the ability to self-service, Assemble's platform is the source of truth at Kandji for workforce decisions, eliminating countless hours of work previously spent on compensation and empowering us to attract and retain top talent as we rapidly scale our business."

The Assemble platform is built on what Assemble calls a company's "Foundation," a single source of truth for a company's unique compensation strategy, system, and associated processes.

Assemble layers this with a real-time view of a company's employee population, pulled in from systems of record like HRIS, ATS, and cap table management system. Product modules are built on top, such as compensation planning, pay equity monitoring, and illustrative offer letters, to make and communicate decisions to attract and retain employees. At scale, Assemble will be the system every leader and department at a high-performing organization uses to engage with compensation and human capital data to make better decisions faster.

Lisa Wallace, Co-founder, Assemble: "Organizations must start by aligning around their strategic intention. Compensation is a shared responsibility across the organization, whether it's employees, recruiters, hiring managers, or leadership. Each stakeholder must be empowered with the right tools and data to do their part in making the right decisions for the company and employees alike."

www.assemble.inc