Rewards and recognition is a saturated category. There are very few new, or even, differentiated apps that we see enter the market. However, there is a steady trickle of funding for firms entering the fray.
From FinSMEs:
Bonusly, a Boulder, CO-based provider of an employee recognition and rewards platform, raised $1.5m in funding.Backers included FirstMark Capital and Bloomberg Beta.The company intends to use the funds to scale its technology.Founded in 2013 by Raphael Crawford-Marks, CEO, Bonusly provides an employee recognition and rewards platform for organizations to build collaborative, inclusive, and productive team cultures that are centered around employee connections.It integrates with tools such as Slack, MS Teams, Workday, BambooHR, ADP, Okta, and more.Last year, the company users gave more than 2.7 million bonuses in 114 countries. And users have contributed nearly a quarter of a million dollars to charity.