Bonusly

Bonusly

SaaS platform for employee recognition rewards

Overview

Bonusly is a software-as-a-service platform that helps organizations improve workplace culture and employee engagement through peer-to-peer recognition and rewards. Employees can recognize each other for contributions, and these recognitions can be redeemed for rewards. The platform works by offering a social recognition feed where peers give points or awards, which can be exchanged for a catalog of rewards. Bonusly operates on a subscription model, with monthly or annual fees charged to organizations. It also provides analytics and insights for managers and HR leaders to track recognition trends, morale, retention, and productivity. Compared to other HR tools, Bonusly centers on continuous peer recognition and rewards, rather than just HR processes, helping organizations of all sizes foster a positive culture and data-driven people decisions.

About Bonusly

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

Industries

Data & Analytics

Enterprise Software

Company Size

51-200

Company Stage

Series B

Total Funding

$31.4M

Headquarters

Boulder, Colorado

Founded

2012

Simplify Jobs

Simplify's Take

What believers are saying

  • 75 million bonuses given boost 89% first-month user participation and retention.
  • Series B $18.9M funding in 2022 expands analytics for data-driven culture decisions.
  • Integrations with Teams, Zapier, and HRIS serve 3,400 organizations like DoorDash.

What critics are saying

  • Workday's Hibo acquisition erodes enterprise share in 6-12 months.
  • Microsoft Viva Glint captures Slack users, driving 30% mid-market churn.
  • Slack's Q4 2025 native features trigger Bonusly subscription cancellations.

What makes Bonusly unique

  • Bonusly automates milestones and offers AI-generated 1:1 recaps for streamlined HR processes.
  • Custom Feeds deliver dynamic, personalized recognition feeds aligned with company values.
  • Judith Bartels leads product and design since May 2023, enhancing end-to-end experience.

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Funding

Total Funding

$31.4M

Below

Industry Average

Funded Over

5 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

-1%

1 year growth

1%

2 year growth

3%
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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