Shearwater announces major investment in EvenBetter gender AI

Shearwater Capital has announced an AUD $500,000 investment in EvenBetter.ai, a Sydney-based startup aiming to redefine gender equity in the workplace.

EvenBetter.ai is deploying artificial intelligence to uncover and address the true drivers of pay gaps, providing businesses with insights and actionable strategies to foster workplace equity. The platform, scheduled to launch next month, aligns with new reporting mandates set by the Workplace Gender Equality Agency (WGEA), and aims to support businesses in compliance with these regulations.

The investment from Shearwater Capital underscores confidence in EvenBetter's approach to addressing workplace diversity. EvenBetter uses AI to identify and understand the factors contributing to pay gaps, setting a new standard for identifying and closing these disparities.

Zac Zavos, Co-founder and Managing Partner of Shearwater Capital, commented on the investment, "EvenBetter is addressing a real market pain felt by many Australian and global businesses as they struggle to translate gender pay gap data into meaningful insights and actions. In backing EvenBetter, we're backing two outstanding founders that we've followed for a number of years."

"Together, they're building smart software which is addressing a very real problem thousands of companies are grappling with. It's the perfect fit for the kind of businesses we want to invest in."

The platform analyses gender pay data through four key pillars: Market, which involves analysing talent availability data across different domains; Diversity, which highlights areas for improvement in representation across teams; Seniority, which addresses disparities in leadership and career advancement; and Pay Equity, which identifies potential areas of pay inequality.

Sorrel Kesby, Co-founder of EvenBetter, noted how the investment will aid their mission, stating, "This investment enables us to accelerate our mission to help businesses move from insight to action on gender pay equality. All too often, when businesses discover their pay gap, they struggle to find ways to minimise that gap in data-driven ways. To succeed, organisations need to move beyond surface-level awareness and truly understand the drivers that build an equitable workforce."

Co-founder Ayal Steiner emphasised the unique position of their platform, saying, "There is currently no platform that collects, analyses, and provides clear recommendations on what to do next. EvenBetter is changing that. As an evidence-based platform, it's about helping companies build evenly in a way that makes sense for their workforce. We're excited to partner with Shearwater Capital to bring our platform to market at a critical moment, empowering businesses to build the right path to reducing their pay gaps."