BetterComp, a US-based provider of compensation management software, has raised $33 million in a Series A funding round led by Ten Coves Capital.
The funding will enable BetterComp to further enhance its AI-powered platform, expand its operational footprint, and enter adjacent product categories. The company also plans to grow its international presence to meet rising demand from its rapidly expanding client base, which includes a significant number of Fortune 500 companies.
Founded in 2019 by Alan Miegel, Sandra Leon, and Derek Watson, BetterComp offers a modern alternative to traditional compensation tools. The platform replaces legacy systems with intuitive, AI-driven technology designed to help large organizations make faster, more accurate, and compliant pay decisions.
Its feature-rich software allows compensation teams to automate routine tasks, apply customized formulas, and visualize clean datasets—streamlining workflows and empowering professionals to focus on strategic, data-driven decision-making.
BetterComp has experienced 100% year-over-year growth for the past two years and reported a 33% increase in headcount in 2025 alone. Currently, 38% of its customers are Fortune 500 companies.
“When we launched BetterComp, our vision was to bring meaningful innovation to compensation departments, which have long been underserved by modern technology,” said co-founder Alan Miegel. “Having bootstrapped the business since day one, this investment not only validates our approach but also underscores our team’s commitment to delivering value for clients and expanding into new markets.”
