Awardco, the Utah-based employee recognition platform, has officially joined the ranks of HR tech unicorns after raising $165 million in Series B funding, pushing its valuation past $1 billion. The round, led by Sixth Street Growth, marks a major milestone for a company reshaping workplace engagement across traditional, remote, and hybrid environments.
At a time when employee disengagement and lack of recognition are plaguing global workforces, Awardco is proving that modern, flexible, and personalized rewards can boost retention, motivation, and performance. Already trusted by over 3,000 organizations—including AT&T, Adobe, Hertz, and Pacific Life—Awardco serves more than six million users across 163 countries, offering a marketplace of over 300 million rewards with no markups.
With this fresh injection of capital, Awardco plans to scale globally, invest in AI-powered personalization, and build on its mission to make employee recognition a daily, meaningful part of work culture.
Redefining Recognition Through Scale, Tech, and Transparency
Founded in Lindon, Utah, Awardco is disrupting outdated, overpriced recognition programs by offering a platform powered by Amazon Business and global partners, delivering real-time access to a wide range of rewards—from experiences to merchandise—without inflated costs.
The company was co-founded by Steve Sonnenberg (CEO), Mike Sonnenberg (CTO), and Tanner Runia (President). Steve, inspired by his father’s legacy in employee rewards, set out in 2011 to modernize recognition by making it more meaningful and scalable. Mike built the technological foundation that integrates with Amazon and HRIS systems, while Tanner scaled operations globally, ensuring Awardco could serve organizations in over 160 countries.
Now, the company’s Series B funding will expand its core capabilities, including AI-powered engagement tools, deeper HRIS and partner integrations, and enhanced support for employee performance and experience management. The company also opened a London office to spearhead growth across Europe, the Middle East, and Africa (EMEA), reflecting its commitment to international expansion.
Awardco isn’t just simplifying recognition—it’s reinventing how companies build connected, motivated teams in a fragmented world of work.
Awardco’s Next Phase: From Platform to Global Standard
With a strong track record and profitability, Awardco is poised for aggressive expansion. Its business model—one that delivers rewards without hidden fees—resonates with HR teams looking to improve culture while controlling costs. It’s not just about gifting points—it’s about designing recognition strategies aligned with business goals, employee behavior, and cultural values.
Awardco’s momentum is further validated by its inclusion in G2’s Top 100 Software Products, as well as the growth of its annual RCGNZ Summit—a key gathering of HR leaders focused on the future of work. From celebrating milestones to reinforcing behaviors and boosting morale, Awardco is shaping how modern companies engage and retain their people.
“This investment allows us to scale the world’s largest configurable rewards marketplace,” said CEO Steve Sonnenberg. “We’re transforming work by making recognition a seamless, impactful part of company culture.”
Co-founder Tanner Runia added: “We’re meeting evolving customer needs by moving into new areas that drive greater value—and we’re doing it from a position of strength, with sustained high growth and a cash-flow-positive business.”
Backing from investors like Sixth Street Growth and Spectrum Equity underscores Awardco’s growing leadership in a category that’s no longer a ‘nice-to-have’—but a strategic imperative for companies worldwide.
