PayScale, an online provider of compensation and benefit 
information, has secured $2 million in a Series C round of venture funding. The company did not divulge the investors involved.
According to an emailed statement sent to Xconomy, PayScale plans to use the money for continuing their growth. They added that the site saw record sales and user traffic in the fourth quarter. Almost 8 million unique visitors came to the company’s sites in the period, and it added new customers such as Dole Foods, General Dynamics, Merck, the U.S. Postal Service, and Zappos.com.
In the past, PayScale has been funded by Fluke Venture Partners, Madrona Venture Group, Trinity Ventures, and other investors.
The site was founded by Joe Giordano and launched in 2002. A main source of revenue includes the packaging and selling of salary data to companies. PayScale isn’t interested in grouping employees by their level of skill. Instead, they ask questions about ancillary benefits that are hard to track, like commute time, benefits, number of years in position, company size, flexible work schedules, and dress code along with salary to gain a richer understanding of someone’s career.
In an interview last July with Cheezhead, Giordano said that with many aggressive moves planned here and internationally, PayScale is on track to become the go-to source for job market data, whether it be for research analysis or news stories.
Last September the company announced a partnership with Yahoo! to provide salary and career resources to job seekers.
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