Seattle-based salary data and software company Payscale Inc. has acquired Agora Solutions Inc., a San Francisco-based compensation tech company.
Agora's entire 15-person team will join Payscale, which now has about 750 full-time employees, a Payscale spokesperson said. The companies aren't disclosing financials of the deal, which was announced Tuesday.
“We are so impressed by the creativity and innovation this group has shown as well as their commitment to pay transparency and fairness," Payscale CEO Alex Hart said in a release. "We look forward to adding their services to our broader portfolio and utilizing their talent and perspective across other parts of our business.”
The spokesperson added that Payscale is a remote-first company and nobody from Agora will have to relocate. Payscale will evaluate what to do with the Agora brand, the spokesperson said.
Payscale helps clients manage raises, close pay gaps and develop salary decisions based on market data. Individuals, meanwhile, can research salaries for different job titles and companies. Payscale's clients include The Washington Post, Sage and Perry Ellis International.
Payscale has been busy with mergers and acquisitions since early last year. In August 2021, Payscale acquired Curo Compensation, a salary software firm headquartered in Edinburgh, Scotland. In March of last year, the company merged with Payfactors, a salary data and management company. After the Curo Compensation acquisition, Payscale had close to 600 employees.
Hart took over as CEO in November 2021 for Scott Torrey, who had led the company for over two years. Private equity firms Francisco Partners and Insight Partners back Payscale. Torrey replaced longtime Payscale CEO Mike Metzger, who had led the company for 15 years before stepping down in 2019.
Agora was founded in 2020. The company provides interactive offer letters, salary management software and salary review technology. Its clients include Brex and NerdWallet.
