Bonusly

Bonusly

Employee recognition and rewards platform

About Bonusly

Simplify's Rating
Why Bonusly is rated
C
Rated D+ on Competitive Edge
Rated B on Growth Potential
Rated C on Rating Differentiation

Industries

Data & Analytics

Enterprise Software

Company Size

51-200

Company Stage

Series B

Total Funding

$30.5M

Headquarters

Boulder, Colorado

Founded

2012

Overview

Bonusly provides a platform for employee recognition and rewards, designed to improve workplace culture and boost employee engagement. The system allows employees to acknowledge each other's contributions through a peer-to-peer recognition process, which can be exchanged for various rewards. This service caters to a wide range of clients, from small businesses to large enterprises, across different industries. Unlike many competitors, Bonusly emphasizes a community-driven approach to recognition, fostering a supportive work environment. The company's goal is to enhance employee morale, retention, and productivity by providing tools and analytics that help organizations create a positive workplace culture.

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Simplify's Take

What believers are saying

  • Bonusly's Series B funding of $18.9M supports platform enhancement and analytics capabilities.
  • The rise of hybrid work models increases demand for Bonusly's flexible recognition system.
  • Growing emphasis on mental health boosts relevance of Bonusly's employee happiness solutions.

What critics are saying

  • Increased competition from new entrants like WorkAngel and Fringe may dilute market share.
  • Reliance on third-party integrations poses risks if platforms change policies or face issues.
  • Rapid growth and funding pressure may lead to operational challenges affecting service quality.

What makes Bonusly unique

  • Bonusly offers a peer-to-peer recognition system enhancing workplace culture and engagement.
  • The platform provides actionable data through powerful people analytics tools for strategic decisions.
  • Bonusly integrates with popular tools like Microsoft Teams and Zapier for seamless recognition sharing.

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Funding

Total Funding

$30.5M

Below

Industry Average

Funded Over

3 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Stock Options

Company Equity

Growth & Insights and Company News

Headcount

6 month growth

2%

1 year growth

3%

2 year growth

-8%
VC News Daily
Jun 9th, 2023
Bonusly Bags $9M in Series A

BOULDER, CO, Bonusly announced it has received $9 million in Series A funding led by Access Venture Partners.

Bonusly
May 16th, 2023
New Custom Feeds: A Dynamic Feed of Recognition

To help you and your team stay up to date on recognition that matters most to you, Bonusly has launched Custom Feeds.

PR Newswire
May 16th, 2023
Bonusly Names Judith Bartels Vp Of Product And Design

Previously the head of design, Bartels will apply her additional, deep experience in business and computer science to the Bonusly product roadmapBOULDER, Colo., May 16, 2023 /PRNewswire/ -- Bonusly , an engaging recognition and rewards platform that connects teams and enriches company culture, today announced that Judith Bartels, previously senior director of design, has been appointed vice president of product and design. In her new role, Bartels will be responsible for the end-to-end Bonusly experience, encompassing both product strategy and design execution.Bartels joined Bonusly in 2021 after spending nearly four years as executive creative director at IHS Markit, a financial information services fintech company, where she managed a team of 50 creative directors and designers who worked with clients on user research, product innovation, and global brand redesigns. Her clients included the New York Times, HSBC, Morgan Stanley, Deutsche Bank, E-Trade and PIMCO. Before that, Bartels spent seven years in senior design roles at SapientRazorfish, where she consulted on digital design and product user experience with some of the world's best-known brands, such as American Eagle Outfitters, Verizon Wireless and Swisscom. She brings years of experience and training in design, along with business management and computer science expertise to her new position."I've always cared deeply about the people on my teams, and in previous roles I spent a lot of time thinking about how to best motivate, engage and recognize them," Bartels said. "It's exciting to take charge of Bonusly's product, especially now

PitchBook
Mar 1st, 2023
Global VC deals for March 1, 2023 | PitchBook

PteroDynamics, an aircraft designer and manufacturer, has secured a $7.5 million seed round led by Kairos Ventures, Lavrock Ventures and CS Venture Opportunities Fund.

Bonusly
Feb 28th, 2023
9 Reasons Bonusly Beats Competition in Employee Recognition

Bonusly has received the top spot for employee recognition software from G2 for four consecutive seasons.

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