How Much Did Bonusly Raise? Funding & Key Investors

Bonusly has successfully raised funds through a Series B round, with the latest funding closing on February 28, 2023. The platform is designed to enhance employee recognition and rewards, offering tools for peer-to-peer recognition, performance management, and automated milestones.

Keep reading to explore the intricacies of Bonusly's fundraising journey and the investors backing this innovative platform.

What Is Bonusly?

Bonusly, founded in 2012 by John Quinn and Raphael Crawford-Marks, is headquartered in Boulder, Colorado. The company operates within the employee benefits, human resources, productivity tools, and SaaS industries.

With an employee count ranging from 51 to 100, Bonusly offers a platform designed to enhance employee recognition, rewards, and engagement. The platform provides tools for peer-to-peer recognition, performance management, and automated milestones, aiming to build a positive work culture and improve team performance.

How Much Funding Has Bonusly Raised?

1. Seed Round
   • Amount Raised: $1M
   • Date: December 2014
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Initial funding to develop the platform and enter the market.
2. Seed Round
   • Amount Raised: $1M
   • Date: November 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Further development and market expansion.
3. Seed Round
   • Amount Raised: $1.5M
   • Date: April 2019
   • Lead Investors: Bloomberg Beta, FirstMark
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance platform features and increase user base.
4. Series A
   • Amount Raised: $9M
   • Date: June 2020
   • Lead Investors: Access Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and improve platform capabilities.
5. Series B
   • Amount Raised: $18.9M
   • Date: February 2023
   • Lead Investors: Ankona Capital Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance the recognition platform, build out analytics capabilities, and invest in sales and marketing.

Total Amount Raised: $31.4M. Current Valuation: Not publicly disclosed.

Key Investors

• Ankona Capital Partners
  • Details: Ankona Capital Partners is a Southern California-based growth venture firm that invests in early growth-stage B2B software companies. The team has over 50 years of combined software and investment experience.
  • Investment Focus Areas: Early growth-stage B2B software companies.
  • Notable Investments: Specific notable investments are not mentioned.
• FirstMark Capital
  • Details: FirstMark Capital is a venture capital firm that focuses on early-stage technology companies. They have a strong track record of supporting innovative startups.
  • Investment Focus Areas: Early-stage technology companies.
  • Notable Investments: Pinterest, Shopify, Riot Games.
• Access Venture Partners
  • Details: Access Venture Partners is a venture capital firm that invests in early-stage technology companies, particularly in the software and internet sectors. They aim to support high-growth startups.
  • Investment Focus Areas: Early-stage technology companies, software, internet sectors.
  • Notable Investments: LogRhythm, Craftsy.
• Next Frontier Capital
  • Details: Next Frontier Capital is a venture capital firm that focuses on high-growth, early-stage technology companies, particularly in the Rocky Mountain region. They aim to support innovative startups in underserved markets.
  • Investment Focus Areas: High-growth early-stage technology companies, Rocky Mountain region.
  • Notable Investments: Submittable, onXmaps.
• Bloomberg Beta
  • Details: Bloomberg Beta is a venture capital firm that invests in early-stage startups. They focus on companies that are transforming industries through technology.
  • Investment Focus Areas: Early-stage startups, technology.
  • Notable Investments: Specific notable investments are not mentioned.

What's Next for Bonusly?

Bonusly stands at the cusp of significant growth opportunities. With the recent $18.9 million Series B funding, the company is poised to enhance its recognition platform, build out analytics capabilities, and expand its market presence through strategic sales and marketing investments. The growing focus on employee engagement and the shift towards remote and hybrid work models present a fertile ground for Bonusly to thrive.

Future fundraising opportunities appear promising, with the potential for Series C and beyond, driven by the company's robust growth trajectory and market demand. However, challenges such as competition from other platforms and the need for continuous innovation to meet evolving user expectations remain. Navigating these hurdles will be crucial for Bonusly's sustained success.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Bonusly and gather other critical business insights.

Sign up for free to start exploring the wealth of information available at your fingertips and drive your sales success.