Incentiv Inc. Announces $3M Seed Round Led by Bowery Capital to Transform How Private Equity Investors Attract & Motivate Top Executive Talent
Summary
After sitting through hundreds of board meetings and managing internal benchmarking data, Incentiv co-founder and CEO Matt Fanelli recognized that the current system for making executive compensation decisions was not only unsustainable but also leading to costly outcomes for both investment firms and their portfolio companies. “From when I started as an associate in 2016, we were using a single spreadsheet of internal benchmarks across our firm to help us make million-dollar exec comp decisions on a weekly basis,” said Matt Fanelli, Incentiv co-founder and former private equity investor at Permira Advisers. “Yet fast forward almost 10 years, as comp decisions have gotten increasingly complicated with nuances in equity plans, time vs. performance vesting, and employment terms, we were using the same spreadsheet which had ballooned in size, was impossible to keep up-to-date, and became a pain for our portfolio companies to engage with. The more I spoke with other leading investment firms, we quickly learned that we were not alone.” What started as an effort to make things more efficient internally, evolved into a mission to redefine how compensation decisions are made across private equity for both investors and corporate executives. Our solution leverages innovative technology including advancements in generative AI to help investment firms and private companies accomplish three major things: • Save time & money: Seamlessly collect relevant benchmarks to calibrate your decisions to the market - so talent leaders don’t overspend or under-motivate.