Dealflow | September 30, 2021

Syndio scores $50 million to help companies address gender and racial pay disparities

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, September 30 — Building a more inclusive workforce requires more equitable practices in the workplace.

Seattle-based Syndio’s software analytics platform is used by more than 200 companies, including Nerdwallet, Nordstrom, Salesforce and General Mills, to monitor and close racial and gender pay gaps.

The Series C round was led by Emerson Collective and Bessemer Venture Partners, with Voyager Capital. “Complex, systemic failures require different, modern approaches,” said Emerson’s Fern Mandelbaum.

Good jobs

Before the murder of George Floyd, only half of Syndio’s partner companies analyzed race. Today, almost all of them analyze both gender and race.

The company says its software helps companies reduce legal risks and recruit and retain talent, as well as boost morale and productivity.