Awardco announced a $165 million Series B round of funding with a valuation that surpassed $1 billion, enhancing its leadership and innovation in the employee rewards and recognition industry.
By providing recognition for customers like AT&T, Pacific Life, Adobe, and Hertz, Awardco grew to over six million users across 163 countries and offers more than 300 million reward options. And this rapid expansion is reshaping employee experience worldwide and positioning Awardco as the leading force in workplace technology.
What the funding will be used for: With this new funding, the company will broaden its rewards and recognition platform with additional solutions for employee engagement and performance, leverage AI to drive deeper employee insights and automations, enhance HRIS and partner integrations, and scale its global infrastructure to power the next era of work.
Along with this exceptional expansion of capabilities, Awardco’s new London office has fueled rapid growth across the EMEA market, reinforcing its global momentum as the leader in employee rewards and recognition. And as more organizations increasingly turn to Awardco for recognition, engagement and incentives, the platform has solidified its reputation as a true culture engine.
Awardco’s leadership continues to grow through bold initiatives like the annual RCGNZ Summit in Park City, Utah, which is one of the premier events in HR Tech. And with new capital and a bold vision, Awardco is building a world where work is more meaningful, connected, and rewarding.
Advisors: Union Square Advisors acted as financial advisor to Sixth Street Growth in connection with the investment.
KEY QUOTES:
“We’re transforming work by making recognition a seamless part of everyday culture and the engine that powers employee engagement. This investment also allows us to further scale the world’s largest configurable rewards marketplace, empowering organizations to recognize employees in ways that are meaningful, flexible, and truly valued.”
Steve Sonnenberg, Co‑Founder and CEO of Awardco
“Our mission isn’t changing, it’s expanding. Guided by our customers’ evolving needs, we’re taking recognition into new areas where it’s delivering even greater impact. We enter this next phase from a position of strength, with sustained high growth and a cash‑flow‑positive business, focused on executing at an even larger scale.”
Tanner Runia, President and Co‑Founder of Awardco
“Recognition is no longer a nice-to-have—it’s a strategic imperative. Awardco is leading the way with a scalable, global-first platform that serves organizations of all sizes, and we’re excited to partner with the team during this next phase of growth.”
Nari Ansari, Managing Director and Susie Liu, Vice President at Sixth Street Growth
“Awardco’s rapid innovation, exceptional customer satisfaction, and flexible platform set it apart. Organizations across industries are using Awardco to rally teams around their top strategic, operational, and cultural priorities, and we’re excited to help accelerate the company’s vision for its customers and the category.”
Adam Gassin, Principal at Spectrum Equity
