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.
Led by Steve Sonnenberg, founder and CEO, 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,
Its network and platform have already amassed a client list of over 1,000 companies across 141 countries including companies like L3Harris Technologies, Texas Roadhouse, Hertz, and Zillow.
Since its inception in 2012, Awardco has been cash-flow positive while doubling its size and revenue annually.