PayScale Inc. combined with fellow compensation-focused data and technology company PayFactors Group LLC.

Insight Partners, the private equity investor of Payfactors, will make a new equity investment into the combined company, rolling 100% of its Payfactors equity. It joins Francisco Partners as part of PayScale's investor base.

PayScale CEO Scott Torrey will serve as CEO of the combined business with Payfactors CEO Jeff Laliberte as chief strategy officer.

Laliberte will also join PayScale's board, alongside Insight Partners Managing Director Ryan Hinkle and Principal David Spiro.

PayScale intends to integrate and develop its product offerings, as well as expand its market footprint.

Francisco Partners targets technology and technology-enabled businesses, while Insight Partners invests in technology and software companies.