Tech Pitch: Emolument
The seasoned business experts on why their start-up fills a gap in the employment market and how it will bring salary transparency to the world
Company name: Emolument
Founder: Thomas Drewry (44), Olivier Beau de Lomenie (43) and Alice Leguay (35)
Background: Drewry and Leguay were both business owners and Beau de Lomenie helped to build leading UK tech start-ups
Based in: London
Very simply, what does your tech start-up do?
- Emolument is the leading crowdsourced salary data website aimed at professionals across financial, legal and professional services
- We have almost 100,000 users from 133 countries and across 18,500 institutions
- We provide transparency about what professionals really earn to help them make more informed career decisions
Tell us why there’s a need – what do you disrupt?
We look to change perceptions about salary transparency. Most employees have very little visibility of their remuneration landscape beyond anecdotal evidence through awkward conversations with colleagues and friends.
This lack of transparency is outdated in an age where social networks and professional tools empower employees to manage their careers like never before. Emolument is the missing piece of the puzzle, giving its users the ability to negotiate in full knowledge of the market and make life-changing career decisions.
Are you funded?
Yes. After an initial £300,000 raise in 2014, we have just raised a further $1.4m from 10 leading city figures.
What were you doing before starting?
Drewry: I founded and ran financial services executive search firm Veni Partners and previously worked for Hambros Bank and ABN Amro.
Beau de Lomenie: I led the team that built Ocado, launched loan distribution service, Moneio, as well as Fashionette and MyShowcase.
Leguay: I began my career with Morgan Stanley High Yield & Distressed Sales and co-launched the French subsidiary of a large design store Rocket Internet in 2011.
What’s the best thing about where you’re based?
Olivier and Thomas knew each other from primary school. When Olivier came back from studying and working in California, Thomas and he started thinking about how to resolve the lack of transparency in pay.
Alice met Thomas and Olivier through mutual friends at a time when she was looking for her next project. Her knowledge of finance through years at Morgan Stanley, and recent involvement with Rocket Internet, led her to naturally joining the Emolument team.