PayAnalytics
PayAnalytics, founded in Iceland in 2016, delivers a cloud pay equity and workforce analytics SaaS platform using log-linear regression to identify and remediate compensation disparities for enterprise HR teams across 75+ countries. Acquired by beqom in December 2023.
- Company typePrivate
- Founded2016
- HeadquartersReykjavík, Iceland
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What PayAnalytics does
PayAnalytics is an Iceland-based SaaS company, founded in 2016, that develops pay equity and workforce analytics software for enterprise and mid-market HR and compensation teams. Its platform uses log-linear regression analysis to calculate adjusted pay gaps—accounting for objective factors such as education, experience, and job role—and to identify statistical outliers, then supports remediation planning through cost modeling and prioritized raise recommendations. The product suite comprises ten integrated modules (Pay Equity Analysis, Pay Transparency, Value-based Comparison, Workforce Analytics, Remediation Actions, Reports, Compensation Assistant, Data Management, Job Evaluation, and User Access Controls) organized around a documented five-pillar methodology (Prepare, Measure, Close, Report, Sustain), with the platform available in seven languages and certified to ISO/IEC 27001:2013 with GDPR compliance.
The company monetizes through annual SaaS subscriptions on a quote-based, demo-first enterprise sales motion targeting HR leaders and compensation teams, complemented by tailored pay equity implementation consulting services. Its go-to-market originally centered on direct enterprise sales from Reykjavík, supplemented by content marketing, a podcast ("Coffee Talk"), and country-specific regulatory compliance resources; following its December 2023 acquisition by Swiss total compensation vendor beqom, distribution now flows through beqom's global enterprise sales infrastructure as well. Visible customers span insurance (Allianz, AXA, Generali, VÍS), retail and luxury goods (Puma, Breitling, IKEA), consulting (Willis Towers Watson), security (Securitas), healthcare (National University Hospital of Iceland, Attentus), energy (Reykjavík Energy), telecommunications (Sýn), aviation (Icelandair), pharmaceuticals (Alvotech, Lyfja), and government (RÚV, Reykjanesbær, Sorpa) across 75+ countries.
The company was capitalized with a $525K tranche in January 2020 followed by a $3.4M seed round in December 2021 from Eyrir Vöxtur and NSA Ventures, and was acquired by beqom in December 2023, operating since then as PayAnalytics by beqom with reported headcount of 251-500 employees headquartered in Reykjavík.
PayAnalytics firmographics
Firmographics- Name
- PayAnalytics
- Website
- https://payanalytics.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Acquired
- Headcount range
- 251–500 employees
- Short description
- PayAnalytics, founded in Iceland in 2016, delivers a cloud pay equity and workforce analytics SaaS platform using log-linear regression to identify and remediate compensation disparities for enterprise HR teams across 75+ countries. Acquired by beqom in December 2023.
- Ownership category
- akta.pro rank
PayAnalytics industry classification
Industry- Product category
- Pay Equity Analytics Software
- NAICS
- Payroll Services (541214), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412)
- SIC
- Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Payroll Software & Payroll-as-a-Service (SaaS) (BPACAIAB)
Keywords
Where PayAnalytics is headquartered
LocationHeadquarters
- HQ city
- Reykjavík
- HQ country
- Iceland
- HQ region
- Europe
Offices1 record
Markets served
PayAnalytics business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- SaaS Software Subscription: Cloud-based software licensing on a subscription basis, providing access to pay equity analysis, workforce analytics, reporting, and remediation tools. Pricing appears quote-based with enterprise tiers.
- Consulting Services: Tailored pay equity implementation consulting services designed to complement and enhance the use of software solutions, offered as professional services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise and mid-market focus with customized pricing |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
PayAnalytics product offering
Product offeringCore offering
PayAnalytics provides a cloud-based SaaS platform that uses log-linear regression analysis to measure adjusted pay gaps by gender, race, and other demographics, and delivers remediation recommendations, compliance reporting, and workforce diversity analytics. The platform also offers tailored implementation consulting services designed to complement and enhance the use of the software.
Product overview
PayAnalytics is a unified pay equity and workforce analytics SaaS platform designed for organizations of all sizes across 75+ countries. The platform consists of a core analytics engine supplemented by 10 integrated modules: Pay Equity Analysis (regression-based gap measurement), Pay Transparency (regulatory compliance workflows), Value-based Comparison (equal pay methodology), Workforce Analytics (DEI tracking), Remediation Actions (gap-closing recommendations), Reports (compliance templates), Compensation Assistant (bias-free decision support), Data Management (import and refinement), Job Evaluation (compensation structure building), and User Access Controls (enterprise security). The software supports 'Prepare, Measure, Close, Report, Sustain' workflows and is available in 7 languages with multi-currency support. Founded in Iceland in 2016, PayAnalytics was acquired by beqom in December 2023.
Differentiator
Problem solved
Functional benefit
Products and services
- PayAnalytics Pay Equity and Workforce Analytics Software Cloud-based SaaS platform using log-linear regression analysis to measure adjusted pay gaps, deliver remediation recommendations, support pay transparency compliance, and provide workforce diversity analytics for enterprise HR and compensation teams across 75+ countries. Available in seven languages with multi-currency support and ISO/IEC 27001:2013 certified.
- Pay Equity Implementation Consulting Services Tailored pay equity implementation consulting services offered alongside the PayAnalytics software, designed to assist organizations with salary reviews, pay gap analysis, and remediation recommendations.
Quantifiable outcome
- Organizations can reduce adjusted pay gaps to 0% through targeted remediation actions
- +1 more outcomes
Companies that use PayAnalytics
Customer profileNamed customers23 records
Segments4 records
Ideal customer profiles4 records
PayAnalytics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature6 records
PayAnalytics partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- beqomcorebeqom, a leading total compensation and performance management solution provider, acquired PayAnalytics in December 2023. The acquisition expanded beqom's pay equity capabilities while providing PayAnalytics with larger enterprise distribution reach. PayAnalytics operates as a product under the beqom brand.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
PayAnalytics competitors and assessment
Company assessmentDirect peers
- Trusaic: Trusaic is a direct competitor offering pay equity analytics software with similar regression-based gap analysis and regulatory compliance features, serving enterprise and mid-market customers in the same HR analytics category as PayAnalytics.
- Syndio: Syndio is a direct competitor providing pay equity SaaS with statistical analysis, remediation tools, and compliance reporting — overlapping closely with PayAnalytics' pay equity, remediation, and reporting modules.
- Pave: Pave offers compensation management and pay equity analytics SaaS for enterprises, overlapping with PayAnalytics on compensation benchmarking, pay gap analysis, and HR decision support workflows.
- PayScale: PayScale provides compensation data, software, and pay equity benchmarking tools, directly overlapping with PayAnalytics on compensation analytics and pay range insights for HR teams.
- Salary.com: Salary.com offers compensation data and HR analytics software, including pay equity and workforce planning tools, competing with PayAnalytics on enterprise compensation intelligence.
Broad incumbents
- beqom: beqom is the parent company of PayAnalytics and a broader total compensation and performance management platform. It is comparable as the platform through which PayAnalytics' pay equity capability is now delivered to enterprise customers.
- Visier: Visier is a broader workforce analytics platform that includes DEI and pay equity analytics as part of its people analytics suite, competing with PayAnalytics' workforce analytics and DEI modules.
- Workday: Workday is a major HCM incumbent that has been adding pay equity capabilities to its broad HR suite, posing a bundling threat to standalone pay equity specialists like PayAnalytics in enterprise deals.
- Willis Towers Watson (Workforce Risk & Analytics): WTW is a large HR consulting and advisory firm that provides pay equity advisory services and tooling to enterprises; notably WTW is also a customer of PayAnalytics, illustrating the dual relationship between consulting peers and software vendors.
Emerging players
- ChartHop: ChartHop is an HR analytics and people operations platform with overlapping workforce analytics and compensation insights, partially competing with PayAnalytics in mid-market HR analytics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
PayAnalytics social profiles
Digital presencePayAnalytics compliance and trust
Trust signalCompliance2 records
PayAnalytics financial estimates
Financial estimateRevenue estimate
Valuation estimate
PayAnalytics leadership team
Management profileNumber of profiles
Profiles4 records
PayAnalytics funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PayAnalytics M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PayAnalytics
What does PayAnalytics do?
PayAnalytics provides a cloud-based SaaS platform that uses log-linear regression analysis to measure adjusted pay gaps by gender, race, and other demographics, and delivers remediation recommendations, compliance reporting, and workforce diversity analytics. The platform also offers tailored implementation consulting services designed to complement and enhance the use of the software.
Is PayAnalytics a public or private company?
PayAnalytics is a private company. It is classified as corporate owned and is currently acquired.
When was PayAnalytics founded?
PayAnalytics was founded in 2016. It employs 251 to 500 people.
Where is PayAnalytics based?
PayAnalytics is headquartered in Reykjavík, Iceland, in the Europe region.
How does PayAnalytics make money?
Two revenue lines are on record. SaaS Software Subscription is the primary driver. The others are consulting Services.
Who are PayAnalytics's main competitors?
Direct peers on record are Trusaic, Syndio, Pave, PayScale and Salary.com. Broad incumbents are beqom, Visier, Workday and Willis Towers Watson (Workforce Risk & Analytics). ChartHop is listed as an emerging player.
Does PayAnalytics have an API?
No public API is recorded for PayAnalytics.
What industry is PayAnalytics in?
PayAnalytics's product category is Pay Equity Analytics Software. Its primary akta.pro industry code is BPACAIAB, Payroll Software & Payroll-as-a-Service (SaaS). Its NAICS code is 541214 and its SIC code is 7372.