# Bonfyre

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

- Industry: Internet
- Headquarters: St. Louis, US
- Website: www.bonfyreapp.com
- Total disclosed funding: $4M
- Latest round: Series A (Jun 21, 2016)
- Investors on record: 1

## About

Bonfyre Inc. provides a dynamic employee engagement platform that cultivates workplace culture and strengthens team connections through various engagement tools and services.Bonfyre Inc. is an employee engagement company founded in 2012 and headquartered in St. Louis, US. The company offers innovative solutions to enhance workplace culture. Mark Sawyier, the founder and CEO, has led the company through multiple funding rounds, raising a total of USD 4.00 mn, with the latest funding being a Venture Debt round of USD 1.20 mn completed on January 13, 2020.Bonfyre offers a comprehensive employee engagement platform designed to foster workplace culture and enhance team dynamics. The core offerings include tools for team recognition, celebration of milestones, and internal communications, all aimed at increasing employee engagement and retention. The platform facilitates recognition through various methods such as nudges, nominations, and manager budgets, while also converting survey feedback into actionable digital initiatives. Bonfyre serves a diverse clientele, including leading companies in utilities, global manufacturing, and healthcare, effectively reaching employees across multiple locations. Geographically, the platform is utilized in North America and other global markets, addressing the needs of organizations seeking to enhance employee satisfaction and cohesion.Bonfyre generates revenue primarily through subscription-based models that cater to businesses seeking to improve their employee engagement initiatives. The platform involves tiered pricing plans associated with various services, allowing organizations to select packages that best fit their needs. Clients typically include businesses in sectors such as healthcare, manufacturing, and utilities that wish to implement Bonfyre’s tools to drive engagement and recognition among their workforce. Transactions are structured around annual or monthly subscriptions, ensuring a continuous revenue stream as clients utilize the platform’s features and receive ongoing support. The business model emphasizes the importance of fostering a positive workplace culture, thereby positioning Bonfyre as an essential partner for companies looking to retain talent and enhance employee morale.Bonfyre plans to utilize the recent Venture Debt funding of USD 1.20 mn raised in January 2020 to develop new features and enhance existing offerings on their employee engagement platform. The company aims to expand into additional markets, especially targeting sectors beyond their current client base, while also exploring opportunities in international markets. Specific regions for expansion have not been disclosed, but Bonfyre is strategically looking to increase its footprint in North America and potentially other countries by 2023.

## Funding rounds

- Series A, Jun 21, 2016, $4M — Arsenal Capital Partners

## Investors

- Arsenal Capital Partners (https://capitalatlas.ai/funds/arsenal-capital-partners) — Series A