Awardco has officially become one of HR tech’s newest unicorns. The Utah-based company just secured $165 million in Series B funding, pushing its valuation past $1 billion. But this isn’t just about the numbers—Awardco is on a mission to fix a big problem in today’s workplace: disengaged employees who feel undervalued.
Founded on the belief that recognition shouldn’t be expensive, outdated, or impersonal, Awardco is reshaping how companies show appreciation. Its platform makes it easy for employers to offer meaningful, personalized rewards—without the inflated costs.
Built for Modern Workplaces
Whether your team is in-office, remote, or hybrid, Awardco delivers flexible reward options to fit every kind of workplace. The platform already powers recognition programs for more than 3,000 organizations, including names like AT&T, Adobe, Hertz, and Pacific Life. Today, it supports over 6 million users across 163 countries, offering access to 300 million reward options—from Amazon items to global experiences.
This latest funding round was led by Sixth Street Growth, with Union Square Advisors acting as the financial advisor. The investment will help Awardco double down on growth, expand into new markets, and introduce smarter tools to make employee recognition more impactful.
The Founders Behind the Mission
CEO Steve Sonnenberg grew up watching his father create championship rings for the Chicago Bulls—an early lesson in what real recognition means. That experience inspired him to modernize the industry. In 2011, he began building what would become Awardco.
He was joined by Mike Sonnenberg, his cousin, who now serves as CTO. Mike’s technical leadership helped build a scalable platform that integrates seamlessly with partners like Amazon Business. Tanner Runia, the company’s President, rounds out the founding team with a focus on operations and strategy. Together, they’ve built a platform that’s user-friendly, globally scalable, and deeply customizable.
A New Era of Recognition
The fresh capital will allow Awardco to enhance its performance tools, integrate AI-driven insights, and expand its rewards ecosystem. That means HR teams can deliver even more personalized recognition at scale, while saving time and cost.
Awardco is also investing in deeper partner integrations, better HRIS compatibility, and a stronger global infrastructure. Its newly opened London office signals a serious push across Europe, the Middle East, and Africa, bringing the company closer to its growing global client base.
What makes Awardco stand out? It’s simple: flexibility, transparency, and scale. The platform offers millions of reward options—without hidden fees or markups. And because it integrates directly with Amazon, companies don’t have to manage bulky catalogs or limited choices.
Recognition as a Culture Driver
Awardco’s rise hasn’t gone unnoticed. It was recently ranked among G2’s Top 100 Software Products—an endorsement of its innovation, ease of use, and high customer satisfaction. The platform goes beyond perks; it helps companies build stronger, more connected teams by making recognition a daily habit.
The company also hosts the annual RCGNZ Summit in Park City, Utah—one of the top gatherings in HR tech. The summit brings together leaders and visionaries to explore how recognition drives performance and culture.
As the world of work evolves, Awardco is leading the charge. With its expanded funding, global reach, and relentless focus on meaningful engagement, it’s not just raising the bar for employee recognition—it’s redefining the entire category.
