April 24 (Bloomberg) — Warburg Pincus LLC, the private-equity firm where former Treasury Secretary Tim Geithner is president, agreed to invest as much as $100 million in executive-compensation database PayScale Inc.
Warburg Pincus will take a majority stake in the Seattle-based company, according to a statement today. PayScale said it will use the money to expand its database, which has more than 40 million salary profiles, as well as to hire more developers and salespeople.
Private-equity firms, hedge funds and mutual funds are pouring money into technology companies at an unprecedented rate as young companies seek more time to grow before going public. BlackRock Inc., the world's biggest money manager, last month led a $100 million investment in database software maker Hortonworks Inc., and TPG Capital last week led a $450 million investment in Airbnb Inc., the online marketplace for rentals of private homes.
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