# Achievers Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/achievers-solutions

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.achievers.com
- Total disclosed funding: $35M
- Latest round: Series C (Sep 28, 2011)
- Investors on record: 4

## About

Achievers Solutions Inc. specializes in employee engagement through a sophisticated recognition and rewards platform that enhances workplace productivity and morale.Founded in 1995, Achievers Solutions Inc. operates from Toronto, Canada, offering a platform focused on employee recognition. The company underwent an acquisition by Blackhawk Network in June 2015. The founders include Sourav Saha and Yassip Sapna YS, with Jeff Cates and Peter Ndungu serving as current CEOs. Achievers has completed 4 deals, with the most recent funding round being Series C, which raised USD 24.50 mn from investors including Sequoia Capital, GrandBanks Capital, and JLA Ventures, bringing total funds raised to USD 24.50 mn.Achievers offers a comprehensive employee recognition and rewards platform designed to enhance employee engagement and drive productivity across diverse organizations. The core offerings, namely Recognize™, Reward™, and Celebrate™, facilitate both monetary and non-monetary recognition seamlessly integrated into users' existing workflows. Recognize™ enables users to nominate colleagues for outstanding performance while Reward™ provides access to a robust global rewards marketplace, featuring locally curated options across approximately 190 countries. Celebrate™ allows companies to commemorate milestones such as years of service, thus personalizing the recognition experience. Achievers primarily serves mid-sized to large enterprises across various industries, with a significant customer base in North America, Europe, and Asia-Pacific, where organizations seek to improve employee morale and retention while fostering a culture of appreciation.Achievers operates under a subscription-based revenue model, primarily targeting B2B clients who implement the recognition platform across their workforces. Clients typically engage in annual or multi-year contracts, which provide access to the suite of products, tailored support, and ongoing updates. The revenue structure encompasses standard subscription fees that are influenced by the number of users and the specific services chosen by the client. For example, clients may subscribe to the entire platform or opt for specific modules such as Recognize™ for employee nominations or Reward™ for accessing the global rewards marketplace. Achievers' transactional framework ensures that organizations can effectively deploy recognition initiatives that align with their corporate objectives, thereby creating a significant return on investment as evidenced by customer feedback.Achievers Solutions Inc. is focused on developing new product features to enhance its recognition platform, with plans for a major update expected later in 2023. The company aims to expand its market presence in Europe and Asia-Pacific by 2024, leveraging recent funding to enhance product development and marketing initiatives. The funding raised during the Series C round will be directed towards these strategic expansions and product enhancements.

## Funding rounds

- Series C, Sep 28, 2011, $25M — Hong Shan, GrandBanks Capital, JLA Ventures
- Series B, May 1, 2009, $5.9M — GrandBanks Capital, JLA Ventures, Laurence Capital
- Series A, Jul 31, 2008, $4.7M — JLA Ventures

## Investors

- JLA Ventures (https://capitalatlas.ai/funds/jla-ventures) — Series A, Series B, Series C
- GrandBanks Capital (https://capitalatlas.ai/funds/grandbanks-capital) — Series B, Series C
- Laurence Capital — Series B
- Hong Shan — Series C