Shearwater Capital Invests in EvenBetter.ai to Drive Gender Pay Gap Action
EvenBetter.ai, a Sydney-based startup focused on helping Australian businesses build evenly to address gender pay equity, has secured a $500,000 investment from Shearwater Capital. The investment highlights confidence in EvenBetter’s innovative platform, meeting the demand for deeper analysis, insights, and actions beyond reporting. Set to launch next month, it aligns with new reporting mandates from the Workplace Gender Equality Agency (WGEA).
Shearwater Capital, known for investing in transformative businesses like Lyka, Sitemate and Capital Brief, has recognised the potential of EvenBetter’s groundbreaking approach to workplace diversity. As the first company to use AI to identify and address the true drivers of pay gaps, EvenBetter is setting a new standard for workplace equity.
“EvenBetter is addressing a real market pain felt by many Australian and global businesses as they struggle to translate gender pay gap data into meaningful insights and actions,” said Zac Zavos, Co-founder and Managing Partner of Shearwater Capital. “In backing EvenBetter, we're backing two outstanding founders that we've followed for a number of years. Together, they're building smart software which is addressing a very real problem thousands of companies are grappling with. It's the perfect fit for the kind of businesses we want to invest in.”
The platform offers businesses actionable insights by analysing gender pay data through four key pillars:
Market: Analysing talent availability data in different professional domains.
Diversity: Highlighting areas for improvement in representation across teams.
Seniority: Addressing disparities in leadership and career advancement.
Pay Equity: Identifying areas of potential pay inequality.
“This investment enables us to accelerate our mission to help businesses move from insight to action on gender pay equality,” said EvenBetter’s co-founder Sorrel Kesby. “All too often, when businesses discover their pay gap, they struggle to find ways to minimise that gap in data-driven ways. To succeed, organisations need to move beyond surface-level awareness and truly understand the drivers that build an equitable workforce.”
“There is currently no platform that collects, analyses, and provides clear recommendations on what to do next. EvenBetter is changing that,” said Ayal Steiner, co-founder of EvenBetter. “As an evidence-based platform, it’s about helping companies build evenly in a way that makes sense for their workforce. We’re excited to partner with Shearwater Capital to bring our platform to market at a critical moment, empowering businesses to build the right path to reducing their pay gaps”.
Photo: EvenBetter Co-Founders Ayal Steiner (left) and Sorrel Kesby (right)
