Carey Olsen advises Comp on US$17.25 million funding round
Carey Olsen's Cayman Islands corporate team has advised Comp, a São Paulo-based, AI-powered HR startup, on its US$17.25 million Series A funding round.
The round was led by Silicon Valley venture capital firm Khosla Ventures, marking the firm's first investment in a Brazilian company. Kaszek, Canary, Abstract Ventures and Endeavor Catalyst also participated.
The funding will be used to expand Comp's platform, enhance its hybrid HR model, and drive international expansion, including entry into the U.S market.
Founded in 2022, Comp builds AI-powered software to help automate and optimise compensation, recruiting and performance review processes in HR departments. Currently used by more than 100 companies, Comp positions itself as an AI alternative to traditional consultancies and competes with global HR platforms such as Rippling and Workday.
The Carey Olsen team advising Comp comprised partner Trevor McCabe and senior associate Evan Stitt, alongside Brazilian legal counsel BZCP.
Trevor McCabe commented: "Carey Olsen is pleased to have advised Comp on its highly successful funding round, a clear indicator of investor confidence in AI tools that automate and streamline HR processes. We look forward to seeing how this investment supports Comp's continued expansion across Latin America's thriving technology landscape, as well as its efforts to meet the rising demand for autonomous AI software in the U.S. and internationally."
