# Awardco

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/awardco

- Industry: Outsourcing
- Headquarters: Lindon, US
- Website: www.award.co
- Total disclosed funding: $230M
- Latest round: Series B (May 20, 2025)
- Investors on record: 3

## About

Awardco, Inc. is a US-based company that offers an innovative online platform focused on enhancing employee rewards and recognition, fostering a culture of appreciation across organizations.Founded in 2015, Awardco, Inc. specializes in employee recognition solutions. The company is headquartered in Lindon, US. Steve Sonnenberg serves as the CEO and was instrumental in establishing the company. Awardco has successfully closed three funding deals, with its latest being a Series B round in May 2025, raising USD 165.00 mn, bringing the total amount raised to USD 165.00 mn and achieving a current company valuation of USD 1,015.58 mn.Awardco provides a comprehensive platform designed for employee rewards and recognition, helping organizations build a culture of appreciation and engagement. Core functionalities include Spot Recognition, allowing users to instantly recognize employees without a login, and a customizable awards system for employee nominations and celebrations for milestones like work anniversaries. The platform also offers wellness programs, safety and quality incentives, and tools for recognizing remote or hybrid employees, serving clients from small businesses to large enterprises across North America, Europe, and Australia.Awardco generates revenue through a subscription-based model, where clients pay for access to its recognition platform and tailored features for employee engagement. The pricing structure includes various tiers that cater to the size and needs of organizations, allowing scalable recognition programs. Clients utilize the platform for recognition programs, prominently featuring AwardCodes™, enabling employees to redeem points for rewards from many retailers, thereby integrating the platform into their HR processes to enhance performance and retention rates.Following the Series B funding round in May 2025, where Awardco raised USD 165.00 mn, the company plans to leverage the new capital to expand its rewards and recognition platform. This will include integrating AI to drive deeper employee insights and automations, enhancing HRIS and partner integrations, and scaling its global infrastructure. The funding will support upcoming product enhancements and assist in entering new markets, targeting specific regions for expansion by the end of 2025.

## Funding rounds

- Series B, May 20, 2025, $165M — Spectrum Equity, General Catalyst Partners, Sixth Street
- Series A, Oct 15, 2021, $65M — General Catalyst Partners

## Investors

- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series A, Series B
- Spectrum Equity (https://capitalatlas.ai/funds/spectrum-equity) — Series B
- Sixth Street (https://capitalatlas.ai/funds/sixth-street) — Series B