PayScale to merge with Payfactors.

PayScale, a provider of compensation data and technology, agreed to merge with Payfactors, a full suite of compensation data management tools. Insight Partners will make a new equity investment into the combined company, rolling 100% of their Payfactors equity and joining Francisco Partners as part of the PayScale investor base. Financial terms were not disclosed. "Compensation and pay equity strategies are shifting even further on to the C-Suite agenda given the accelerated shift to remote and hybrid work and the overwhelming importance of the social justice movement. Together, the PayScale leadership team’s experience running SaaS businesses at scale combined with Payfactors’ deep compensation expertise creates the optimal set of capabilities to offer faster paced innovation to get pay right today and in the future for even the largest of organizations," Scott Torrey, PayScale CEO.