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Bonusly, an Employee Recognition and Reward Platform, Closes $9M funding

By HR Tech Outlook | Friday, June 12, 2020

Bonusly receives $9 million in Series A funding Round that is led by the VC Access Venture Partners

Fremont, CA: Bonusly, an engaging recognition and rewards platform that interlinks teams and enhances the company culture receives $9 million in Series A funding round. The latest funding round was led by Access Venture Partners, co-led by Next Frontier Capital, Operator Partners, and existing investor FirstMark Capital.

Bonusly's recognition and rewards strengthen morale and motivation, promotes collaboration, and builds social links and a holistic sense of purpose for teams, all those outcomes which are desperately necessary for the development at present. 

"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."

Top 10 Employee Engagement Solution Companies - 2020With enterprises becoming much flexible than before, Bonusly's platform provides real-time recognition to highlight those accomplishments, either big or small, in a very positive and public manner. This move helps form higher bonds among employees, fosters stronger cultures in the company. 

Employers have had to recalibrate to remote work and back to the office, cut down budgets, and find out newer ways to keep the business going; the real challenge was to keep the employees engaged. Bonusly's fun and easy solution for rewarding employees and enhancing workplace cultures is an economical and practical approach that employers need urgently in this crisis. 

Bonusly's platform as a solution connects people to their workplaces and each other in several meaningful ways. From its inception in 2013, the company has been providing a fun and easy way to assist people to feel a greater sense of connection and purpose, understand what it means to embody a company's core values, and see how contributions of all kinds can support the fulfillment of an organization's mission. 

"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," said Kirk Holland, Managing Director at Denver-based 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."

The Managing Director of FirstMark, Amish Jani, is impressed with the outcomes that Bonusly is delivering to all its clients. "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," Jani said. "We're proud to include Bonusly in our portfolio of ambitious and innovative brands."

See also: Top HR Tech Companies

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