Workplace analytics platform provider Syndio secured $50 mllion in Series C funding round

Syndio, a Seattle based workplace analytics platform provider, has now secured $50 million in a Series C funding round.

Syndio was founded by Maria Colacurcio in the year 2017. The startup offers a workplace analytics platform to make sure fairness and equity are part of each and every employment decision. Its data science-supported software enables companies to analyze and resolve pay equity issues due to race, gender, or some other comparisons and to monitor them over time.

Maria Colacurcio, CEO of Syndio, said, "Every day, the pressure from employees, investors, and governments grows to close persistent workplace gaps to ensure that companies achieve enduring success in a 21st century economy. The cost of ignoring these internal and external forces are clear: loss in brand power, increase in capital costs through employee attrition and inefficiency, and a collapse in morale. For the first time in history, technology exists to meet this moment and make workplace equity a foundational leadership principle. These equity analytics are being defined and pioneered by Syndio, and we're thrilled to have Bessemer and Emerson's continued partnership in fueling our growth."

Databricks Chief People Officer Amy Reichanadter, said, "At Databricks, we are understandably obsessed with data and finding the best ways to use it. Several years ago when we made a commitment to pay equity and to closing the pay gap, we set out to find the best, most data-centric, most unbiased way to analyze pay equity. Syndio was the obvious choice, and since starting to use the software last year we have gained a deep understanding of our pay equity and its underlying factors. The company provides not only the best software in the space, but access to experts and guidance as we move through our journey to pay equity".

The Bessemer Venture Partners and Emerson Collective led the latest funding round. Other participating investors include Voyager Capital. The latest funding brings total funding raised by Syndio to $83 million.

The analytics startup, as of now, has plans to use the new funds to accelerate its growth, enhance its hiring efforts, and new product development, notes the announcement.