Latest news with #SixthStreetGrowth
Reuters
20-05-2025
- Business
- Reuters
Employee-rewards company Awardco secures $1 billion valuation after latest funding round
May 20 (Reuters) - Employee-rewards platform Awardco said on Tuesday it has raised $165 million in a funding round led by investment firms Sixth Street Growth and Spectrum Equity, pushing its valuation to more than $1 billion. Existing investors General Catalyst and Qualtrics' co-founder Ryan Smith also participated in the series B round. The investment marks a step up from the Utah-based company's $900 million valuation in 2021, when it had raised $65 million in one of the largest series A rounds in the HR software as a service (SaaS) sector. With the fresh capital infusion, Awardco aims to broaden its rewards and recognition platform with additional solutions for employee engagement and performance, leverage AI to gain deeper workforce insights and automation, improve integration with HR information systems and scale its global infrastructure. Awardco allows companies to move beyond traditional compensation by offering recognition, rewards and professional development options to employees. Its clients include U.S. telecom giant AT&T (T.N), opens new tab and Photoshop maker Adobe (ADBE.O), opens new tab. The company has grown to more than six million users across 163 countries and offers over 300 million reward options.
Yahoo
20-05-2025
- Business
- Yahoo
Employee-rewards company Awardco secures $1 billion valuation after latest funding round
(Reuters) -Employee-rewards platform Awardco said on Tuesday it has raised $165 million in a funding round led by investment firms Sixth Street Growth and Spectrum Equity, pushing its valuation to more than $1 billion. Existing investors General Catalyst and Qualtrics' co-founder Ryan Smith also participated in the series B round. WHY IT IS IMPORTANT The investment marks a step up from the Utah-based company's $900 million valuation in 2021, when it had raised $65 million in one of the largest series A rounds in the HR software as a service (SaaS) sector. With the fresh capital infusion, Awardco aims to broaden its rewards and recognition platform with additional solutions for employee engagement and performance, leverage AI to gain deeper workforce insights and automation, improve integration with HR information systems and scale its global infrastructure. CONTEXT Awardco allows companies to move beyond traditional compensation by offering recognition, rewards and professional development options to employees. Its clients include U.S. telecom giant AT&T and Photoshop maker Adobe. BY THE NUMBERS The company has grown to more than six million users across 163 countries and offers over 300 million reward options.
TechCrunch
20-05-2025
- Business
- TechCrunch
Gravitee, a platform that helps companies manage APIs, raises $60M
Gravitee, a platform designed to help companies manage their APIs and other digital traffic pipelines, has raised $60 million in a Series C funding round led by Sixth Street Growth with participation from Riverside Acceleration Capital and Albion VC. The new capital, which brings Gravitee's total raised to just over $125 million, will be used to fund the development of new product features and Gravitee's expansion into new markets, said CEO Rory Blundell. Modern data systems are complex. APIs, for example — the set of rules that allow different apps to communicate and exchange data — often come with their own tools and protocols. Blundell makes the case that companies risk creating blind spots and slowing down innovation without a control plane to tie disparate systems together. '[C]ompanies are integrating AI agents, streaming data, APIs, and hybrid systems faster than ever,' Blundell said in a statement. 'As a result, many companies face major risks around security, observability, and control of their API and event infrastructure.' Blundell founded Gravitee in 2015 alongside developers Azize Elamrani, David Brassely, Nicolas Géraud, and Titouan Compiegne. What started as an open source project quickly evolved into a business. Today, Gravitee offers paid services to fund development of its freely available software. The Gravitee platform can be deployed on-premises, self-hosted, or used as a part of Gravitee's software-as-a-service plan. Features across all releases include a tool for designing APIs and deploying them ahead of mock testing as well as a dashboard from which users can visualize the components of their API deployments. Gravitee competes with Blobr, which offers software for exposing and monetizing enterprise APIs. Another top rival is StepZen, a company developing graph tech to help connect and visualize various APIs. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Blundell claims that Gravitee is differentiated by its support for both asynchronous APIs (i.e. APIs that return data at a later time) and synchronous APIs (APIs that return data immediately). Some vendors don't offer this. Gravitee has hundreds of customers today, according to Blundell, including Blue Yonder, Michelin, Roche, and Tide. Annual recurring revenue reached $22 million in fiscal year 2024. Gravitee employs around 130 customers and plans to end the year with roughly 200.
Yahoo
20-05-2025
- Business
- Yahoo
Awardco Raises $165 Million, Surpasses $1 Billion Valuation
Sixth Street Growth and Spectrum Equity join existing investors General Catalyst and Ryan Smith, Partner at HXCO, in a strategic round of financing to fuel a new era in the employee rewards, recognition and engagement space. SALT LAKE CITY, May 20, 2025 /PRNewswire/ -- Awardco announced today a $165 million Series B round of funding with a valuation that eclipses $1 billion, further solidifying its leadership and innovation in the employee rewards and recognition space. By powering recognition for customers like AT&T, Pacific Life, Adobe, and Hertz, Awardco has grown to over six million users across 163 countries and offers more than 300 million reward options. This rapid expansion is reshaping employee experience worldwide and positioning Awardco as the leading force in workplace technology. With this new investment, the company will broaden its rewards and recognition platform with additional solutions for employee engagement and performance, leverage AI to drive deeper employee insights and automations, enhance HRIS and partner integrations, and scale its global infrastructure to power the next era of work. "We're transforming work by making recognition a seamless part of everyday culture and the engine that powers employee engagement," said Steve Sonnenberg, Co‑Founder and CEO of Awardco. "This investment also allows us to further scale the world's largest configurable rewards marketplace, empowering organizations to recognize employees in ways that are meaningful, flexible, and truly valued." "Our mission isn't changing, it's expanding," said Tanner Runia, President and Co‑Founder of Awardco. "Guided by our customers' evolving needs, we're taking recognition into new areas where it's delivering even greater impact. We enter this next phase from a position of strength, with sustained high growth and a cash‑flow‑positive business, focused on executing at an even larger scale." In addition to this exceptional expansion of capabilities, Awardco's new London office has fueled rapid growth across the EMEA market, further reinforcing its global momentum as the leader in employee rewards and recognition. As more organizations increasingly turn to Awardco for recognition, engagement and incentives, the platform has solidified its reputation as a true culture engine—earning a place among G2's Top 100 Software Products. "Recognition is no longer a nice-to-have—it's a strategic imperative," said Nari Ansari, Managing Director and Susie Liu, Vice President at Sixth Street Growth. "Awardco is leading the way with a scalable, global-first platform that serves organizations of all sizes, and we're excited to partner with the team during this next phase of growth." "Awardco's rapid innovation, exceptional customer satisfaction, and flexible platform set it apart," said Adam Gassin, Principal at Spectrum Equity. "Organizations across industries are using Awardco to rally teams around their top strategic, operational, and cultural priorities, and we're excited to help accelerate the company's vision for its customers and the category." Awardco's leadership also continues to grow through bold initiatives like the annual RCGNZ Summit in Park City, Utah, one of the premier events in HR Tech. With new capital and a bold vision, Awardco is building a world where work is more meaningful, connected, and rewarding. Union Square Advisors LLC acted as financial advisor to Sixth Street Growth in connection with the investment. About Awardco Awardco builds culture, incentivizes behavior, and powers modern engagement through employee recognition and rewards. Trusted by 3,000+ organizations, including Fortune 500 leaders, Awardco offers the world's largest reward network—no hidden fees, no inflated markups. With the flexibility to create recognition, incentive, milestone, and behavior-driven programs, Awardco drives engagement, improves retention, and delivers significant cost efficiencies. The company is headquartered in Lindon, Utah. Learn more about Awardco at About Sixth Street GrowthSixth Street Growth makes investments in mid- and late-stage technology companies. The Sixth Street Growth team partners with founders and management teams to provide differentiated capital solutions to accelerate organic and inorganic growth. Sixth Street Growth is the dedicated growth investing platform of Sixth Street, a leading global investment firm with over $100 billion in assets under management and committed capital. Sixth Street has invested over $10 billion in more than 70 companies through its Growth franchise since inception. Select Sixth Street Growth investments include Airbnb, AvidXchange, Bloomreach, Clio, Gainsight, Kaseya, Keyfactor, MasterControl, MDLIVE, Seeq, Spotify, Stripe, and Sprinklr. For more information, visit and follow Sixth Street on LinkedIn. About Spectrum EquitySpectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For over 30 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading software, data, and consumer internet businesses. With offices in Boston, San Francisco, and London, the firm is investing its tenth fund with $2 billion in limited partner capital. Representative investments include AllTrails, Ancestry, Definitive Healthcare, GoodRx, Lucid Software, Origami Risk, SurveyMonkey, Teachers Pay Teachers, and Verafin. Learn more about Spectrum Equity at Media Contact:press@ View original content to download multimedia: SOURCE Awardco Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
