OpenComp

About OpenComp

OpenComp is a human resources software company that provides a comprehensive compensation management tool designed to help businesses manage salary ranges, benchmarks, merit cycles, and compliance tasks. The platform connects HR and equity systems to offer real-time, apples-to-apples comparisons of compensation data, enabling companies to see exactly where they stand in the market. OpenComp serves a variety of clients, including startups and established enterprises, operating primarily in the HR tech market. The business model revolves around a subscription-based service, where clients pay for access to the platform's features and data. OpenComp makes money by offering tiered subscription plans that cater to different business needs and sizes. The company emphasizes data security with access controls, data encryption, security certifications, and system audits to ensure that client information is safe and secure. OpenComp aims to create a more collaborative and engaged workplace where employees feel valued and employers can confidently manage compensation.