Awardco

Awardco

Employee recognition and rewards platform

About Awardco

Simplify's Rating
Why Awardco is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Consulting

Enterprise Software

Company Size

501-1,000

Company Stage

Series A

Total Funding

$68.1M

Headquarters

Utah

Founded

2015

Overview

Awardco provides a platform for businesses to create and manage employee recognition and rewards programs. This platform allows companies to automate recognition for service anniversaries, birthdays, and other milestones, making it easier to acknowledge employee contributions. Awardco's unique offering includes "Awardco Lifestyle Spending," which gives employees flexible benefits tailored to their lifestyles, enhancing their overall experience at work. Unlike many competitors, Awardco offers enterprise-level solutions at prices accessible to small and medium-sized businesses, making it affordable for organizations of all sizes. Additionally, Awardco is the only featured rewards and recognition partner of Amazon, allowing it to provide a diverse range of reward options for employees. The goal of Awardco is to help businesses attract and retain top talent by fostering a culture of recognition and appreciation.

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Simplify's Take

What believers are saying

  • Integration with AI-driven analytics can enhance personalized employee recognition programs.
  • Rise of remote work increases demand for digital recognition platforms, expanding market reach.
  • Partnership with Sworkit Health integrates wellness rewards, aligning with mental health trends.

What critics are saying

  • Increased competition from AdvantageClub could challenge Awardco's market position.
  • External Recognition feature may face adoption challenges without adequate customer engagement.
  • A-Pay cards could face regulatory scrutiny in regions with strict financial regulations.

What makes Awardco unique

  • Awardco partners with Amazon Business, offering a vast reward network with zero markups.
  • External Recognition feature allows third-party recognition, enhancing customer-facing employee appreciation.
  • A-Pay cards provide unmatched flexibility in reward redemption across 100,000+ locations.

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Funding

Total Funding

$68.1M

Above

Industry Average

Funded Over

2 Rounds

Notable Investors:
Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$65M
Awardco
$100M
GitHub

Benefits

Unlimited Paid Time Off

401(k) Company Match

Gym Membership

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-3%

2 year growth

-3%
Viestories
Dec 3rd, 2024
AdvantageClub.ai has Secured $4 Million in Latest Fun

AdvantageClub competes with platforms like Vantage Circle, Bonusly, Awardco, Workhuman, Reward Gateway, and Achievers.

SL Enterprise
Aug 24th, 2024
INNOVATE UTAH 8-26-24

Awardco, a Lehi company providing employee recognition and rewards, has introduced External Recognition, a feature in its platform that allows customers, vendors, partners or any third-party to recognize employee efforts.

PR Newswire
Aug 8th, 2024
Sworkit Health And Awardco Announce Partnership To Enhance Employee Wellness And Recognition

BETHESDA, Md., Aug. 8, 2024 /PRNewswire/ -- Sworkit Health , a leading provider of digital health and fitness solutions, today announced a strategic partnership with Awardco , an innovative employee recognition and rewards platform. This collaboration aims to revolutionize corporate wellness programs by combining Sworkit's comprehensive fitness and wellness offerings and challenges with Awardco's powerful rewards and recognition capabilities.Key highlights of the partnership include:1. Integrated wellness solutions: Sworkit Health's 4-in-1 support for Physical Activity, Mindfulness, Low-acuity MSK, and Nutrition will be seamlessly integrated with Awardco's recognition and rewards platform. Activities done in Sworkit will directly power certain rewards and recognition in Awardco.2. Enhanced employee engagement: The partnership is expected to drive higher participation rates in wellbeing initiatives and programs through Awardco's innovative rewards mechanisms

PR Newswire
Aug 6th, 2024
Awardco Launches External Recognition, An Employee Rewards And Recognition Innovation Built For Customer-Facing Teams

External Recognition allows customers, vendors, partners, or any third-party to recognize employee efforts and service from the outside in, further enhancing a culture of appreciation.LEHI, Utah, Aug. 6, 2024 /PRNewswire/ -- Awardco, the leader in employee recognition and rewards, introduced External Recognition today, further strengthening their industry-leading innovations for employee recognition, rewards, productivity, and engagement. The External Recognition feature allows customers, vendors, partners, or any third-party to recognize employee efforts and service in real-time, uniting customers and employees and strengthening value-driven cultures of recognition.See how External Recognition with Awardco works.External Recognition further extends Awardco's lead in the industry by bringing customers into employee recognition. This feature is especially impactful for front line, deskless, and all customer-facing roles as they interact with customers more than they do their own coworkers. Customers can recognize employees for exceptional service on the spot, and the recognition shows up in the Awardco recognition feed for all employees to see.Industries such as Healthcare, Retail, Food Service, Professional Services, and more will benefit from this feature as their employees can now be recognized by their customers, expanding the culture of appreciation beyond the office environment. Awardco is also debuting AI-powered recognition monitoring and approvals to ensure safe and compliant use of language that meets industry standards while saving admin's hours on approval workflows.Steve Sonnenberg, CEO of Awardco, expressed his excitement about the feature, saying, "Awardco is the leader in the employee recognition and rewards space in many ways, and we are thrilled to expand the power of recognition to the valued customers of every organization

GlobeNewswire
May 14th, 2024
Avantax Planning Partners Recognizes Affiliate Accomplishments, Builds on Strong CPA Firm Relationships During National Conference

New Firm of the Year Award Baden Gage & Schroeder LLC received the New Firm of the Year award for quickly adopting best practices and demonstrating a strong commitment to wealth management as a service line after affiliating with APP in 2023.

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