Awardco, a Provo, Utah-based employee rewards and recognition company that builds culture through value-driven recognition, announced that it raised $65 million in Series A funding to pioneer a new future for rewards, recognition, and compensation.
The round was led by General Catalyst and Ryan Smith, Qualtrics co-founder, and Utah Jazz majority owner.
This is the largest Series A funding in HR SaaS history and boosts Awardco's valuation to more than $900 million.
Round: Series A
Funding Month: October 2021
Lead Investors: General Catalyst and Ryan Smith
Company Website: https://www.award.co/
Software Category: Employee recognition and engagement platform
About the Company: Awardco incentivizes behavior and builds workplace culture through value-driven recognition and rewards. It is the only employee recognition and total rewards platform to partner with Amazon Business to offer the power of Amazon for any size organization's incentive programs. Awardco is transforming employee rewards, recognition, and compensation while driving value-based behavior. Its network and platform have already amassed a client list of over 1,000 companies across 141 countries. Over 3 million employees from companies like L3Harris Technologies, Texas Roadhouse, Hertz, and Zillow received over 9 million recognitions using the Awardco platform in the past year. Organizations using Awardco to build culture during the workday generate positive reinforcement every 0.8 seconds.