We only take on 4 clients per month. Join our April cohort. 2 spots left.
Conversation
Highlights
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Virgile Raingeard, CEO of Figures, a platform that has raised €8.5 million in funding. Figures is revolutionizing the way companies handle compensation, offering insights and tools to ensure fair and efficient compensation policies.
Here are the most interesting points from our conversation:
- Origin Story: Virgile, with a background in computer science and HR, started Figures to solve the pain point of lacking reliable market data for compensation policies in France. Initially, it was a side project that evolved from a Google Sheet into a comprehensive compensation benchmarking platform.
- Product Evolution: Figures connects to HR systems to gather data for real-time compensation benchmarking. It helps companies understand market rates and analyze their compensation strategies for fairness and efficiency.
- Category Creation in Europe: Figures is at the forefront of establishing the “CompTech” category in Europe, a space that’s more mature in the US. The platform is leading the way in offering compensation intelligence solutions.
- Marketing with Humor: Emphasizing the value of not being overly serious, Figures uses humor in its marketing and product videos to engage with its audience uniquely and memorably.
- Addressing Data Security: Virgile highlights the importance of data security, acknowledging it as the “nuclear option” that could undermine trust in their platform. Figures is taking significant steps to ensure data privacy and security.
- Vision for the Future: Virgile envisions a future where the necessity of platforms like Figures is obvious, and companies can’t imagine managing compensation without the insights and tools it provides.
- The Importance of Product Obsession: Virgile discusses the French tech founder mentality of being product-obsessed, focusing on creating a product that he wishes he had as an HR professional.
- Cultural Impact on Company Building: The interview touches on the cultural aspects of company building in France, emphasizing product development over distribution strategies.
Actionable
Takeaways
Leverage Personal Pain Points as Innovation Drivers:
Virgile's journey with Figures began from his personal frustration with the lack of reliable compensation data. For B2B tech founders, leveraging personal pain points can be a powerful source of innovation, often leading to solutions that address widespread industry challenges.
Embrace the Power of Simplicity in Initial Offerings:
The initial success of Figures was based on a simple Google Sheet exchanged for compensation data. This simplicity in product offering can be crucial for early traction. Founders should consider launching with a minimal, straightforward solution that directly addresses a core problem, then evolve based on user feedback.
Prioritize Product Security from Day One:
Given the sensitivity of compensation data, Figures places a high emphasis on security measures to avoid breaches. For founders in the tech space, prioritizing product security from the outset is essential, especially when handling sensitive customer data. Investing in certifications like ISO 27001 and SOC 2 can build trust and credibility.
Use Humor to Stand Out in Marketing:
Figures incorporates humor into its marketing and product videos to engage audiences. This approach can differentiate a brand in crowded markets. Founders should consider authentic ways to infuse personality into their marketing efforts, making their brand more relatable and memorable.
Monitor Competitors for Inspiration, Not Intimidation:
Observing the evolving 'CompTech' space in the US, Figures draws inspiration for new features and strategic directions. Founders should view competitors as a source of learning and inspiration for product development and market positioning, rather than a threat.
Recommended Founder
Interviews
Wes Winham Winler
Founder/CEO of Woven
Wes Winham Winler, CEO of Woven: $11 Million Raised to Transform How Companies Recruit and Hire Developers
Fraser Patterson
CEO and Founder of Skillit
Fraser Patterson, CEO and Founder of Skillit: $13 Million Raised to Tackle the Skilled Labor Crisis in Construction
Mike Fitzsimmons
CEO and Co-Founder of Crosschq
Mike Fitzsimmons, CEO & Co-Founder of Crosschq: $35 Million Raised to Power the Future of AI-Driven Hiring Intelligence
Hanna Asmussen
CEO and Co-Founder of Localyze
Hanna Asmussen, CEO and Co-Founder of Localyze: Over $48 Million Raised to Build the Leading Global Mobility Platform for Companies and Employees
Mike Adams
Co-Founder & CEO of Grain
Mike Adams, Co-Founder & CEO of Grain: $22 Million Raised to Power the Future of Meetings
Nicholas Rudder
Co-Founder & CEO of Sphere
Nicholas Rudder, Co-Founder & CEO of Sphere: $5 Million Raised to Build the Future of Corporate Learning
Hanns Aderhold
Founder and CEO of Cobrainer
Hanns Aderhold, Founder and CEO of Cobrainer: $21 Million Raised to Build the Future of Skills Data Platforms
Agapitos Diakogiannis
Co-founder & CEO of Seafair
Agapitos Diakogiannis, CEO of Seafair: $6.5 Million Raised to Build the Future of Maritime Recruitment
Nishika de Rosairo
CEO and Founder of HumanQ
Nishika de Rosairo, CEO and Founder of HumanQ: $3.5 Million Raised to Build the Future of Human Development
Andy Berman
CEO and Founder of Vowel
Andy Berman, CEO and Founder of Vowel: $13 Million Raised to Power the Future of Meetings
Omer Glass
Co-Founder and CEO of GrowthSpace
Omer Glass, Co-Founder and CEO of GrowthSpace: $44 Million Raised to Build the Future of Employee Development
Jared Pope
CEO and Co-Founder of Work Shield
Jared Pope, CEO and Co-Founder of Work Shield: $12 Million Raised to Eliminate Workplace Misconduct
Marcelo Lebre
President of Remote
Marcelo Lebre, Co-founder & COO of Remote: Nearly $500 Million Raised to Power the Distributed Workforce of the Future
Brett Martin
President and Co-Founder of Kumospace
Brett Martin, President and Co-Founder of Kumospace: $25 Million Raised to Power the Future of Virtual Offices
Amit Bhatia
CEO & Co-Founder of Data People
Amit Bhatia, Co-Founder and CEO of Data People: $21 Million Raised to Build the Future of Recruiting Intelligence
Jason Lavender
CEO of Electives
Jason Lavender, CEO of Electives: $10M Raised to Redefine Corporate Training
Daniel Birkholm
Founder & CEO of TalentHub
Daniel Birkholm, TalentHub: $6 Million Raised to Transform How Organizations Measure and Improve Their Hiring Experience
Ben Zweig
CEO of Revelio Labs
Ben Zweig, CEO of Revelio Labs: $19 Million Raised to Build the Future of Workforce Intelligence
Kian Katanforoosh
CEO & Founder of Workera
Kian Katanforoosh, CEO of Workera: $21 Million Raised to Build the Skills Intelligence Category
Ben Sesser
CEO & Founder of BrightHire
Ben Sesser, CEO & Founder of BrightHire: $36 Million Raised to Build the Interview Intelligence Category
Sebastian Schüller
Co-founder of HiPeople
Sebastian Schüller, Co-founder of HiPeople: $7 Million Raised to Develop Data-Driven Augmentation for Hiring Teams
Tony Jamous
CEO of Oyster
Tony Jamous, CEO of Oyster: $220+ Million Raised to Build the Global Employment Platform (GEP) Category
Ian White
Founder of ChartHop
Ian White, Founder, CEO and CTO of ChartHop: $74 Million Raised to Build the Future of PeopleOps
Joseph Fung
CEO of Uvaro
Joseph Fung, CEO of Uvaro: $15 Million Raised to Build the Career Success Platform Category
Warren Lebovics
Co-Founder of Pequity
Warren Lebovics, Co-Founder of Pequity: $19 Million Raised to Build the Future of Employee Compensation
Kelsey Bishop
Founder and CEO of Candor
Kelsey Bishop, Founder and CEO of Candor: $5 Million Raised to Build the Future of Professional Relationship-Building
Sam Naficy
CEO of Prodoscore
Sam Naficy, CEO of Prodoscore: $4 Million Raised to Build the Future of Employee Productivity Measurement
Will Sealy
CEO and Co-Founder of Summer
Will Sealy, CEO and Co-Founder of Summer: Over $18 Million Raised to Help Organizations Provide Student Loan Benefits
Jason Radisson
CEO and Founder of Movo
Jason Radisson, CEO and Founder of Movo: Over $9 Million Raised to Build the Future of HR Automation
Sammy Singh
CEO and Co-Founder of WurkNow
Sammy Singh, CEO and Co-Founder of WurkNow: $15 Million Raised to Power the Future of Staffing
Prem Kumar
CEO | Co-founder of Humanly
Prem Kumar, CEO of Humanly.io: $5.5 Million Raised to Build the Conversational Hiring Category
Daniel Liebeskind
CEO and Co-Founder of Topia
Daniel Liebeskind, CEO and Co-Founder of Topia: $6 Million Raised to Help Organizations Build Their Own Metaverse
Chandler Malone
Founder of Bootup
Chandler Malone, Founder of Bootup: $2 Million Raised to Solve the Tech Talent Crisis
Sid Upadhyay
Co-founder & CEO of WizeHire
Sid Upadhyay, Co-founder & CEO at WizeHire: Over $30 Million Raised to Help SMBs Hire Great Talent
Peter Briffett
CEO and Co-Founder of Wagestream
Peter Briffett, CEO and Co-Founder of Wagestream: $370 Million Raised to Provide Financial Wellbeing for Every Frontline Employee
Tom Griffiths
CEO and Co-founder of Hone
Tom Griffiths, CEO of Hone: $50 Million Raised to Build the Future of Corporate Training
Laura McGee
Founder and CEO of Diversio
Laura McGee, CEO of Diversio: $6 Million Raised to Help Organizations Measure and Improve DEI
Raghu Gollamudi
CEO and Co-Founder of Included
Raghu Gollamudi, CEO and Co-Founder of Included: $5.4 Million Raised to Build the Future of HR Analytics
Andres Blank
Co-founder & CEO of Fetcher
Andres Blank, CEO of Fetcher: $40 Million+ Raised to Build the Future of Recruiting Automation
Jaclyn Chen
CEO of Benepass
Jaclyn Chen, CEO of Benepass: $14 Million Raised to Build the Future of Employee Benefits Management
Kevin Busque
CEO and Founder of Guideline
Kevin Busque, CEO and Founder of Guideline: $339 Million Raised to Help More Small Businesses Offer Retirement Plans
Stephen Johnston
CEO and Founder of GoodJob
Stephen Johnston, CEO and Founder of GoodJob: $9 Million Raised to Power the Future of Human Capital Management
Achuthanand Ravi
Founder & CEO of Kula
Achuthanand Ravi, CEO of Kula: $14 Million Raised to Build the Future of Recruiting
Matt Watson
CEO and Founder of Origin
Matt Watson, CEO and Founder of Origin: Over $70 Million Raised to Make Financial Wellness the Next Big Employee Perk
Barbra Gago
CEO and Founder of Pando
Barbra Gago, CEO and Founder of Pando: $7 Million Raised to Build the Future of Career Advancement
Ville Herva
CEO of BOLT.works
Ville Herva, CEO of BOLT.works: $7 Million Raised to Build the Future of Staffing
Anthony Mironov
CEO and Co-Founder of Wingspan
Anthony Mironov, CEO and Co-Founder of Wingspan: $30 Million Raised to Power the Contractor Experience of the Future
Rob Whalen
CEO of PTO Exchange
Rob Whalen, CEO of PTO Exchange: $5M Raised to Empower Companies to Rethink Paid Time Off
Josh Merrill
CEO of Confirm
Josh Merrill, CEO of Confirm: Over $11 Million Raised to End the Performance Review Nightmare
Matt Pierce
CEO of Immediate
Matt Pierce, CEO of Immediate: $15 Million Raised to Eliminate the Costly Price of Financial Stress in the Workforce