Total amount raised
$31.4 Million
Latest funding date
02/01/2023
Location
Bonusly has successfully raised funds through five distinct funding rounds, with the latest being a Series B round led by Ankona Capital Partners. The platform is designed to enhance employee recognition and rewards, offering a variety of tools to motivate and engage teams.
Keep reading to explore the intricacies of Bonusly's fundraising journey and the investors backing this innovative platform.
What Is Bonusly?
Bonusly, founded in Boulder, Colorado, operates in the Employee Benefits, Human Resources, Productivity Tools, and SaaS industries. The company has a workforce of 51-100 employees and focuses on enhancing employee recognition and rewards.
Bonusly offers a platform designed to improve workplace culture and productivity by providing tools for acknowledging and rewarding employees' contributions. Trusted by over 3,400 organizations, it aims to create a sense of belonging and streamline HR processes.
How Much Funding Has Bonusly Raised?
- Seed Round (2014-12-02)
- Amount Raised: USD 1,000,000
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial development and market validation.
- Seed Round (2015-11-22)
- Amount Raised: USD 1,000,000
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Further development and scaling of the platform.
- Seed Round (2019-04-05)
- Amount Raised: USD 1,500,000
- Date: April 2019
- Lead Investors: Bloomberg Beta, FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand market reach.
- Series A (2020-06-01)
- Amount Raised: USD 9,000,000
- Date: June 2020
- Lead Investors: Access Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and validate the business model.
- Series B (2023-02-28)
- Amount Raised: USD 18,900,000
- Date: February 2023
- Lead Investors: Ankona Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the recognition platform, improve analytics capabilities, and invest in sales and marketing.
Total Amount Raised: USD 31,400,000. Current Valuation: Not publicly disclosed.
Key Investors
- Ankona Capital Partners
- Details: Ankona Capital Partners is a southern California-based growth venture firm that invests $5 to $15 million into early growth-stage B2B software companies. The team has over 50 years of combined software and investment experience.
- Investment Focus Areas: High-growth technology companies, 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 invests in early-stage technology companies. They have a portfolio that includes some of the most successful tech companies.
- Investment Focus Areas: Early-stage technology companies across various sectors.
- Notable Investments: Pinterest, Shopify, Riot Games.
- Access Venture Partners
- Details: Access Venture Partners is a venture capital firm that focuses on early-stage technology investments. They have a history of supporting innovative tech startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: LogRhythm, Craftsy.
- Next Frontier Capital
- Details: Next Frontier Capital is a venture capital firm that invests in high-growth, early-stage companies. They aim to support innovative startups with significant growth potential.
- Investment Focus Areas: High-growth, early-stage technology companies.
- Notable Investments: Submittable, onXmaps.
- Bloomberg Beta
- Details: Bloomberg Beta is a venture capital firm that focuses on early-stage investments in technology companies. They are known for their strategic investments in innovative tech startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Specific notable investments are not mentioned.
What's Next for Bonusly?
Bonusly stands at the cusp of significant growth opportunities, driven by the increasing importance of employee recognition in today's competitive job market. With its recent $18.9 million Series B funding, the company plans to enhance its platform, build out analytics capabilities, and invest in sales and marketing. These efforts aim to expand its market reach and provide deeper insights into employee performance and engagement.
Future fundraising opportunities seem promising as Bonusly continues to demonstrate strong growth and market validation. The company's ability to attract top-tier investors and its focus on innovation position it well for additional funding rounds. However, challenges such as competition from other well-funded platforms and the need to continuously innovate to meet evolving customer needs remain.
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