Lindon, Utah-based Awardco, a leading platform for employee rewards, recognition, and engagement, has successfully raised $165 million in a Series B funding round, pushing its valuation past the $1 billion mark.
The round was backed by Sixth Street Growth and Spectrum Equity, alongside returning investors General Catalyst and Ryan Smith, Partner at HXCO.
The fresh capital will be strategically used to enhance Awardco’s platform capabilities, with a strong focus on developing new solutions for employee engagement and performance management. The company also plans to integrate AI-driven insights and automation, bolster compatibility with HRIS platforms and partner ecosystems, and scale its global operations to support its expanding client base.
Powering Recognition in Modern Workplaces
Led by CEO Steve Sonnenberg, CTO Mike Sonnenberg, and President Tanner Runia, Awardco empowers over 3,000 organizations, including industry giants like AT&T, Pacific Life, Adobe, and Hertz, to build strong workplace cultures. The platform enables businesses to implement customized programs around employee recognition, incentives, milestones, and behavior-driven engagement—all supported by one of the world’s largest reward networks.
Awardco’s expansion into EMEA has been bolstered by the launch of its London office, accelerating its global footprint and client acquisition across international markets.
As businesses increasingly prioritize talent retention and workplace satisfaction, Awardco’s tech-driven approach to recognition and performance management is proving instrumental in shaping the future of employee engagement.