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Sydney startup EvenBetter.ai has secured $500,000 in funding from Shearwater Capital as it prepares to launch a platform designed to help businesses close gender pay gaps.
The investment aligns with new reporting mandates from the Workplace Gender Equality Agency (WGEA) and reflects the growing demand for tools that go beyond compliance to deliver deeper analysis and actionable insights.
Addressing workplace equity
Shearwater Capital, which has previously backed companies including Lyka, Sitemate and Capital Brief, said EvenBetter.ai’s approach to workplace diversity addresses a pressing challenge.
“EvenBetter is tackling a real issue for Australian and global businesses struggling to turn gender pay gap data into meaningful actions,” said Zac Zavos, Co-founder and Managing Partner of Shearwater Capital. “In backing EvenBetter, we’re supporting two strong founders we’ve followed for years. They’re building smart software that solves a significant problem thousands of companies are facing.”
EvenBetter.ai’s platform provides businesses with insights by analysing gender pay data across four areas:
- Market: Examining talent availability across different professional sectors.
- Diversity: Identifying gaps in representation within teams.
- Seniority: Highlighting leadership and career advancement disparities.
- Pay Equity: Detecting areas where pay inequality may exist.
Moving from insight to action
“This investment allows us to accelerate our mission to help businesses turn data into action on gender pay equality,” said Sorrel Kesby, Co-founder of EvenBetter.ai. “Many companies discover they have a pay gap but don’t know how to reduce it in a data-driven way. To make meaningful progress, organisations need more than just awareness. They need to understand the factors that contribute to a fair workforce.”
Ayal Steiner, Co-founder of EvenBetter.ai, said the platform is filling a gap in the market by offering practical solutions rather than just reporting.
“There is currently no platform that collects, analyses and provides clear recommendations on next steps. EvenBetter is changing that,” Steiner said. “As an evidence-based platform, it helps companies build evenly in a way that aligns with their workforce. We’re excited to partner with Shearwater Capital to bring our platform to market at a critical moment, empowering businesses to take the right steps in closing their pay gaps.”
EvenBetter.ai’s launch next month comes as companies face increased scrutiny over workplace equity, with the new WGEA reporting requirements pushing businesses to take a more proactive approach to addressing pay disparities.
Last Updated on February 10, 2025 by Nick Ross
