Awardco, a Provo, Utah-based employee rewards and recognition company that builds culture through value-driven recognition, raised $65m in Series A funding. This round, which brought Awardco’s valuation to more than $900m, was led by General Catalyst and Ryan Smith, Qualtrics co-founder and Utah Jazz majority owner.
Steve Sonnenberg, CEO said: “With the Great Resignation impacting all areas of business, efforts to improve retention, engagement, and culture can no longer be a function of just HR. People are catching on to Awardco’s vision: to drive culture and build true employee loyalty by aligning efforts across all areas of business operations — from recognition to compensation. There are no shortcuts; addressing one area of the employee experience alone is not cutting it. Organizations must provide real value to their people. With this support from investors, Awardco is primed to completely change the way organizations reward and recognize their people.”
Awardco incentivizes behavior and builds workplace culture through value-driven recognition and rewards via an employee recognition and total rewards platform which offers millions of products, hotels through Priceline, event tickets, gift cards, swag, and custom catalogs.
This round of funding advances Awardco’s vision of the future of work by becoming the marketplace for the world’s loyalty and incentive spend.
Announcement: Awardco Raises $65M for Rewards and Recognition