Awardco joined the Unicorn Club on May 20, 2025, after raising a $165M Series B funding round led by General Catalyst and Spectrum Equity. The Lindon-based HRTech company provides employee rewards and recognition software, offering solutions for recognition, celebrations, incentives, benefits, perks, and rewards programs. The platform supports spot recognition, automated service awards, onboarding programs, wellness programs, sales incentives, and more, with reward options including gift cards, e-commerce points, travel, charitable giving, and AI-enhanced recognition capabilities.
Keep reading to explore Awardco’s funding journey, key investors, and what’s next for this innovative HR platform.
What Is Awardco and What Does It Do?
Founded in 2011, Awardco is headquartered in Lindon, Utah, United States. The company specializes in employee rewards and recognition solutions, providing tools to manage celebrations, incentives, onboarding, and automated service awards. Its platform integrates with existing HR systems, delivering reporting, analytics, and AI-enhanced recognition solutions.
Awardco serves businesses looking to improve employee engagement, retention, and satisfaction through scalable, data-driven reward programs.
How Much Funding Has Awardco Raised?
- Series A
- Amount Raised: $70M
- Date: August 2018
- Motivation: To develop the platform and expand market reach.
- Series B
- Amount Raised: $165M
- Date: March 13, 2025
- Lead Investors: General Catalyst, Spectrum Equity
- Valuation at Round: $1B
- Motivation: To scale operations, enhance AI capabilities, and expand reward offerings.
Total Funding Raised: $235M
Latest Funding Date: March 13, 2025
Key Investors
- General Catalyst
- Details: Venture capital firm investing across early and growth-stage technology companies.
- Investment Focus Areas: Software, technology, HRTech
- Notable Investments: Airbnb, Stripe, Snap
- Spectrum Equity
- Details: Growth equity firm focused on software and technology-enabled services.
- Investment Focus Areas: Enterprise software, technology services
- Notable Investments: Anaplan, ExactTarget, Mindbody
Where Is Awardco’s Headquarters?
Awardco is headquartered in Lindon, Utah, United States, providing access to HRTech talent, technology infrastructure, and enterprise clients.
What’s Next for Awardco?
Awardco plans to scale its AI-powered rewards platform globally, enhance integration with enterprise HR systems, and introduce new features to drive employee engagement and satisfaction. Leveraging unicorn status and investor backing, the company aims to expand its reward offerings, improve operational efficiency, and strengthen analytics capabilities to deliver measurable impact for clients.
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