Compt raises $13 million in Series A funding led by Battery Ventures – Natural Self Esteem

BOSTON–(BUSINESS WIRE). The funding comes after a year of rapid growth, nearly 500% ARR, and follows a previous seed funding round from collaboration software company Slack Fund and Harlem Capital Partners. Battery’s new funding will help Compt reach and support more global businesses that are demanding an inclusive approach to employee benefits and benefits for their teams.

Compt’s vendor-agnostic grant software is built with personalization in mind, allowing teams to assign fixed grants across broad categories such as “health and wellness” or “family.” Employees then select services in the categories that appeal to them. To get a refund, they simply upload photos of receipts through Compt’s application or its direct integration into Slack. Overall, Compt enables perks across twenty categories and has average employee engagement of 91% and account activation of 97% at companies using its software.

As the future of work sees a massive push toward hybrid and fully remote solutions, HR teams are steering a categorical shift in how they deliver business benefits. Those extras have traditionally included staples like health care and retirement plans, then expanded to include in-office perks like free team lunches and group fitness classes. Today, as the concept of the “office” has evolved, many companies are transitioning to offering a wider range of more flexible perks that can be customized for each employee and accessed remotely, says Amy Spurling, CEO of Compt, who runs the company in the founded in 2018.

“Before I started Compt, the number one complaint from employees was that the shiny new benefit we were offering wasn’t enough. “I dont want that. Why can’t I have anything else?’” Spurling recalled. As a two-time COO and three-time CFO, she saw the same problem pop up over and over again. “I realized that the staff were right – that was part of it her compensation and they should be able to choose what suits their individual needs.”

Compt was specially developed for the personnel administrator. The software is intentionally integrated with HR information systems and payroll software in the backend. And unlike its peers, Compt puts tax compliance front and center for global businesses, reducing administrative burdens for both HR and finance teams. Currently it is the only benefits software that offers truly comprehensive benefits for all employee needs while being 100% tax compliant.

“Compt has created truly innovative, flexible benefits software for today’s workers, providing a service that enables companies to communicate their shared values ​​to employees,” said Neeraj Agrawal, General Partner of Battery Ventures, who is part of the new investment has joined the board of Compt . “Ease of use is also a big selling point for HR admins who have been on the front lines of the dramatic workplace evolution we’ve seen in recent years due to Covid-19 and other factors and are struggling to adapt existing programs. We are very excited to support Compt and help the company scale.”

Compt also plays a key role in globalization, supporting businesses in 60 countries and integrating with the essential tools they already use like ADP, UKG, BambooHR, Sapling, Slack, Google and more. Offering employee benefits to teams to create a personalized, flexible experience has increased engagement among Compt’s widespread customer base. Compt itself makes a concerted effort to build a diverse and inclusive team. Compt employees are 67% people of color, 50% female and 8% LGBTQ+.

“There is so much you can do with Compt. Our employees are actually reaching out to us to let us know how excited they are about the scholarship and that it really helps them feel seen and valued,” said Compt client Lucy Lemons, ButterflyMX Chief People Officer. Lemons joins a diverse portfolio of clients like Webflow and Nextdoor who trust Compt to deliver more perks with less money, support their remote teams, and keep everyone happy and healthy.

About Compt

Compt is the leading employee grants platform, giving people the freedom to choose the lifestyle perks they really want. Founded by a five-time CFO and COO, Compt’s employee grants and awards software is fully customizable to an organization’s needs, IRS compliant, and capable of supporting global teams. Compt is proud to be recognized as #1 HR Tech Platform by SHRM’s Better Workplaces Challenge and Best Small Company to Work For by Built In Boston 2022. Compt is based in Boston, MA. For more information, see https://www.compt.io/.

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