Awardco, a leading employee-rewards platform, has raised $165 million in a Series B funding round led by Sixth Street Growth and Spectrum Equity. The latest investment boosts the Utah-based company’s valuation to over $1 billion, marking a significant jump from its previous $900 million valuation in 2021.
General Catalyst and Qualtrics co-founder Ryan Smith also joined the round as existing investors.
This fresh capital will help Awardco expand its employee recognition and engagement platform, integrate AI for better workforce insights and automation, enhance compatibility with HR systems, and strengthen its global infrastructure.
Awardco enables companies to reward employees through recognition programs and professional development opportunities, going beyond traditional compensation models. Its client base includes major corporations such as AT&T and Adobe.
The platform now serves over six million users in 163 countries and offers access to more than 300 million reward options.
Stay informed on the latest government policies, legal reforms, and financial news. Visit Finance Tech News for in-depth updates and expert analysis.
News Source: Finance.yahoo.com
