Employee Rewards Platform Bonusly Raises $9 Million

By Annie Baker ● June 1, 2020
  • Recognition and rewards platform Bonusly announced it has raised $9 million in Series A funding

Recognition and rewards platform Bonusly announced it has raised $9 million in Series A funding led by Access Venture Partners and they were joined by Next Frontier Capital, Operator Partners, and existing investor FirstMark Capital.

Bonusly’s recognition and rewards are known for bolstering morale and motivation, fostering collaboration, and building social links and a greater sense of purpose for teams. 

“When everyone in an organization participates in recognition and rewards, people feel a sense of purpose and see that their contributions are valued by their bosses, peers, and others on their teams,” said Raphael Crawford-Marks, co-founder and CEO of Bonusly. “Employee engagement and morale are more important than ever, and this round of investment validates the value of our solution in meeting the pressing people challenges of the current environment and into the future.”

As organizations are becoming more fluid than ever, Bonusly’s platform is empowering real-time recognition to highlight accomplishments big and small in a very positive and public way — which fosters stronger cultures and builds great companies.

And as employers have had to shift to remote work, tighten budgets, and figure out new ways of doing business, keeping employees engaged is becoming increasingly challenging. Plus Bonusly’s fun and easy solution for rewarding people and enriching workplace cultures is a cost-effective approach that employers desperately need in this crisis. The Bonusly solution connects people to their work and each other in meaningful ways.

“We searched across the country for the best companies that fit our Future of Work investment theme and felt that Bonusly is not only a company that positively impacts employee’s lives, but also drives real ROI for customers through engagement and retention,” added Kirk Holland, Managing Director at Access Ventures. “We know there is a huge market demand for what Bonusly is providing to individual employees, teams, and company culture, and we’re proud to be an investor in that vision.”

Launched in 2013, Bonusly provides a fun and easy way to help people feel a greater sense of alignment and purpose, understand what it means to embody a company’s core values, and see how contributions of all kinds support an organization’s mission.

“We recognize that Bonusly is in the midst of a defining moment, where the vision they have to elevate collaboration, teams, and a greater sense of purpose in work is exactly what we believe the market is craving in these uncertain times,” explained FirstMark Managing Director Amish Jani. “We’re proud to include Bonusly in our portfolio of ambitious and innovative brands.”