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Awardco raises $165 million in a Series B funding round, surpassing a $1 billion valuation, backed by Sixth Street Growth and Spectrum Equity.

PRIVATEMay 20, 2025•12 months ago

Amount Raised

$165 Million

Round Type

series b

LindonInformation TechnologyCommerce and ShoppingMedia And EntertainmentCommerce And ShoppingHuman Resources

Investors

Ryan SmithGeneral CatalystSpectrum EquitySixth Street Growth

Description

Awardco announced today a $165 million Series B round of funding with a valuation that eclipses $1 billion, further solidifying its leadership and innovation in the employee rewards and recognition space. This investment will broaden its platform with additional solutions for employee engagement and performance. Awardco has grown to over six million users across 163 countries and offers more than 300 million reward options. The company aims to leverage AI to enhance employee insights and integrate partner solutions.

Company Information

Company

Awardco

Location

Lindon, Utah, United States

About

Awardco builds culture, incentivizes behavior, and powers modern engagement through employee recognition and rewards. Trusted by 3,000+ organizations, including Fortune 500 leaders, Awardco offers the world's largest reward network—no hidden fees, no inflated markups. With the flexibility to create recognition, incentive, milestone, and behavior-driven programs, Awardco drives engagement, improves retention, and delivers significant cost efficiencies.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, FundzIQ™ for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies.

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