Alan Miegel is co-founder and CEO of BetterComp, a modern compensation management platform for larger companies to manage compensation datasets to set market-priced salary benchmarks. Alan and his cofounders started the company in 2019 with founder funding, then raised angel funding as convertible debt from his friends in the tech industry.
They shipped their first “minimum sellable product” in 2020 and grew revenues steadily, doubling every year from $1M in 2022 to almost $10M in revenue in 2025. BetterComp now has over 80 employees and 200 customers.
In July of 2025, BetterComp raised a combined $33 million in growth equity funding from Ten Coves Capital and venture debt from Silicon Valley Bank. Alan and his cofounders still own a majority of the company. Now they have more resources and support to build on what has worked so far, enabling them to grow even faster and become a market leader.
Quote from Alan Miegel, cofounder and CEO of BetterComp
“Early on I didn’t pay myself anything. Then I paid myself enough just enough to max out my 401(k) contribution, with no taxable income. I made a promise to my founders, my co-founders that I was going to pay them before I paid myself.
“I always paid my co-founders more than I made. That’s still the case now. As the CEO, you think of it like you are the last one to get paid in this equation. You’re not doing this to make money now; you’re doing this to make money down the line.
“And you ask a lot of other people to make sacrifices, you ask them to make less than what they’re used to making, so you have to put them first. Because if they see you putting yourself first, they’re not gonna think they’re the most important thing in the business, which they are.”
Links
- Alan Miegel on LinkedIn
- BetterComp on LinkedIn
- BetterComp website
- Founderpath
- Ten Coves Capital
- Union Square Advisors
Podcast Sponsor – Cypress Growth Capital
This podcast is sponsored by Cypress Growth Capital, an alternative to equity, royalty-based growth capital provides funding in exchange for a fixed percentage of your company’s future monthly revenues. Learn more at https://www.cypressgrowthcapital.com/
