The funds will help in expanding the company's product offering and connectivity to enable organizations to better leverage their sophisticated compensation strategies
TORONTO, August 16, 2022 /PRNewswire-PRWeb/ -- CompTrak – the award-winning Compensation Management software company is set for accelerated growth, having secured funding from BDC Capital, the investment arm of BDC.
The injection of non-dilutive financing from BDC Capital's Growth & Transition Capital division will allow CompTrak to further extend and develop its newest product offerings in Performance Management and Carried Interest / Co-Invest Management.
Supporting CompTrak's already impressive growth trajectory, this capital will be mobilized to accelerate global expansion. The company is committed to bolstering its global team in North America, Europe and Asia with local talent to support the unique geographical compensation nuances in all regions.
Complementing the company's growth and operational scale plans, CompTrak will be building its partner network, ensuring the CompTrak DNA is immersed with our valued consulting, technology and implementation partners. CompTrak and its network of partners are well suited to recognize and address the void left by HCM implementations on compensation process operationalization, insight and analysis.
"Over the past three years, the pandemic has shown that employers who are agile and innovative as it relates to their compensation strategy will win the day. CompTrak is evolving to meet the emerging market needs with new and strengthened product offerings," said Perry Doody, CompTrak Co-Founder. "We are grateful for the incredible companies we work with and the new BDC partnership will accelerate the next phase of CompTrak's journey and enable expansion of our product and growth strategies."
Co-Founder and Chief Operating Officer Lasse Silegren added, "The platform continues to offer a more immersive and intelligent experience, allowing organizations to make better-informed decisions at each stage of the compensation process. It's better data at the right time to enable the best decision for your organization, helping organizations eliminate unconscious bias, promote fair pay and ensure your most vulnerable talent are compensated, ensuring retention."
CompTrak is an award-winning Compensation Management Software company which provides organizations with a configurable end-to-end solution to effectively manage all components of compensation from base pay to bonus, equity, and long-term incentives. Helping businesses maximize the value of compensation, they currently support companies of all sizes across various sectors from financial services to retail, manufacturing, and technology. CompTrak's industry-leading employee experience reinforces the importance of communication as part of an organization's reward strategy. Visit comptrak.com.
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country's most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
Mikael Silegren, CompTrak, 1 855-420-8020, [email protected]