An affiliate of private equity firm Warburg Pincus has paid $100m to acquire a majority share in Payscale, the US-based creator of a database listing current market salaries.
Although Geekwire reported that Warbug Pincus had acquired some shares from existing investors, it did not provide any additional details. SAP Ventures, the corporate venturing unit of software company SAP, led Payscale’s series C round in 2007, which raised $10.3m, as well as a subsequent $7m round in 2011.
Payscale had raised more than $32.5m since 2004 and additional backers include advisory firm Corporate Executive Board, Montlake Capital, Madrona Venture Group, Trinity Ventures, Fluke Venture Partners and Allen & Company.
Founded in Seattle in 2000, Payscale operates a salary database that contains more than 40 million profiles, and its algorithms acquire, analyse and aggregate compensation information in real-time.
The company plans to use the acquisition capital to hire additional staff, specifically in its go-to-market and product development teams.