Crowdsourced pay-data solution Emolument lets you check out the money your peers are earning

emolumentWhether or not we are comfortable in a particular job, it typically does not hurt to keep an eye on our peers or the competition. British startup Emolument aims to do just that with a crowdsourced platform that allows professionals to receive up-to-date reports on people and employers in their industry (or fellow students, if you are still at university).

Finding information through Emolument is a matter of filling out a profile and receiving a personalized report in return. Users are asked to provide information about their location (down to the city-level in some cases), education-level, salary, gender, and years of experience in order to obtain the free report. What is unique about this service is that, not only do they provide users with reports that include information about different employers and job titles, but the information is updated in real-time, as soon as the startup can validate it. Emolument draws their information from the data that more than 73K users have submitted since the service launched in 2012.

Startups need to generate revenue somehow and, in the case of Emolument, it is through various channels, including targeted advertising and job ads on their website or in their newsletter. They also provide organizations with white-label surveys, as well as offer users a premium service with extra features.

The startup has opted to keep the identities of their investors private, but a representative from the company tells me that they picked up $1.4 million just a couple of weeks ago from a group of 10 investors drawn from the world of private equity and investment banking. Their plans for the funding are a bit vague, but the representative would say that they aspire to become the largest crowdsourced pay-data platform out there.

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