# Nudge Rewards

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nudge-rewards

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.nudgerewards.com
- Total disclosed funding: $14M
- Latest round: Series B (Aug 16, 2019)
- Investors on record: 7

## About

Nudge Rewards Inc. is a company focused on enhancing employee engagement and performance through innovative digital solutions that empower frontline workers with the necessary knowledge and motivation to excel in their roles.Nudge Rewards Inc. develops digital solutions aimed at improving frontline employee engagement. Founded in 2013, the company is headquartered in Toronto, Canada. It was acquired by Axonify Inc. in June 2022, allowing for an expanded focus on addressing workforce challenges. The firm was established by individuals with a background in technology and employee solutions. The latest funding round was a Series B with an amount of USD 9.30 mn led by Jump Capital, alongside investors including BDC Capital and Brightspark Ventures. To date, the total amount raised by Nudge Rewards Inc. is USD 9.30 mn through five different deals.Nudge Rewards Inc. provides a platform designed to enhance employee engagement and performance for frontline workers. The company offers digital tools for communication, training, and task management, helping employees access necessary resources and knowledge in real-time. The platform ensures that learning is integrated into daily workflows, catering to various industries including retail and hospitality, with a global presence in over 160 countries.Nudge Rewards Inc. generates revenue primarily through subscription-based agreements with businesses. These agreements typically span annual or multi-year terms, granting clients access to core features of the platform, analytics tools, and customer support. The pricing structure is tailored to accommodate specific client needs and deployment scales, with tiered packages offering varying access levels and customization. The platform has shown high engagement rates, with a significant percentage of users logging in multiple times weekly, contributing to stronger business relationships and revenue growth.Following its acquisition by Axonify Inc. in June 2022, Nudge Rewards Inc. aims to accelerate its product offerings and expand into new markets. The acquisition will allow Nudge to better support frontline workers amidst labor shortages by providing enhanced training and resources. The recent funding of USD 9.30 mn will be strategically utilized to enrich product development and market outreach initiatives, ensuring they meet the evolving needs of frontline employees.

## Funding rounds

- Series B, Aug 16, 2019, $9.3M — BDC Capital, Brightspark Ventures, Jump Capital, Generation Ventures, StandUp Ventures
- Series A, Nov 15, 2017, $3.9M — BDC Capital, Brightspark Ventures, Generation Ventures, StandUp Ventures
- Seed, Oct 31, 2013, $1M — RBC Generator Fund, MaRS Investment Accelerator Fund

## Investors

- RBC Generator Fund — Seed
- MaRS Investment Accelerator Fund (https://capitalatlas.ai/funds/mars-investment-accelerator-fund) — Seed
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A, Series B
- Brightspark Ventures (https://capitalatlas.ai/funds/brightspark-ventures) — Series A, Series B
- Generation Ventures — Series A, Series B
- StandUp Ventures (https://capitalatlas.ai/funds/standup-ventures) — Series A, Series B
- Jump Capital (https://capitalatlas.ai/funds/jump-capital) — Series B