Compensation expenses represent the single largest cost for most businesses, yet many large organizations rely on outdated or disconnected platforms for managing pay. BetterComp aims to address this challenge by offering a modern, user-friendly software platform supported by domain experts. The company’s technology is designed to reduce time spent on compensation tasks and provide AI-driven insights, enabling professionals to make informed pay decisions that align with evolving talent strategies and regulatory requirements.
BetterComp was founded in 2019 by Alan Miegel, Sandra Leon, and Derek Watson, who collectively bring over 40 years of experience in the compensation industry. The co-founders established BetterComp to deliver an agile and adaptable platform capable of streamlining market pricing processes. “We spent years watching HR departments benefit from consistent advancements in technology that made their roles more seamless and agile,” said Alan Miegel, co-founder and CEO of BetterComp. “When we founded BetterComp, our goal was to bring similar innovation to compensation departments, which have historically lacked this kind of progress. After bootstrapping the business since inception, this fresh capital validates our vision and is a testament to our team’s dedication to better serving clients and expanding into new markets.”
The BetterComp platform assists compensation and human resources teams in optimizing data value, adapting to dynamic markets, and improving workflow efficiency for accuracy and consistency. Its features include automating daily tasks, supporting the creation of custom formulas, and promoting a policy-based approach to data consumption and communication. The system also normalizes datasets and presents information in a clear, digestible format, allowing compensation professionals to focus on strategic pay decisions.
Steve Lula, Partner at Ten Coves Capital, commented on the investment, stating, “We are thrilled to be part of BetterComp’s journey to modernize and automate compensation management – an area that has long been overlooked by tech innovation. We see tremendous value in what BetterComp is building and believe this team has the domain knowledge and network to create a market-leading company in the compensation industry.” The funding comes on the heels of continued momentum for BetterComp throughout 2025, following 100% year-over-year growth in each of the previous two years. Currently, 38% of BetterComp’s customers are Fortune 500 companies, and the company’s headcount has grown 33% this year.
