20-05-2025
- Business
- Wall Street Journal
Awardco Valuation Passes $1 Billion With Latest Private-Equity Bet
Sixth Street Partners led a $165 million minority investment alongside Spectrum Equity to back the growth of Awardco, pushing the employee-rewards company's valuation to more than $1 billion.
The latest cash infusion marks a step up from the Lindon, Utah, company's roughly $900 million valuation in 2021, when it raised $65 million from venture-capital firm General Catalyst and tech entrepreneur Ryan Smith, also owner of the National Basketball Association's Utah Jazz franchise. That deal provided the company with its first institutional capital.
