Bonusly - Internet Publishing

A tool that HR people love - a fun and easy way to engage all employees no matter where or how they work.

About

Bonusly is a platform that involves the entire organization in recognizing employees and rewarding them. Bonusly launched in 2013 when co-founder and CEO Raphael Crawford-Marks saw the opportunity to reinvent the way employers and colleagues recognize and reward their employees or coworkers.

Bonusly thinks recognition should happen year-round. The platform works with the employers on their overall budget for recognition and rewards and breaks that down into “points” that are allotted to all employees at the organization.

These employees can give out points to other co-workers, whether they’re direct reports or managers, or peers, at any time throughout the year. Those points translate to a monetary value that can be redeemed by the employee at any time, whether it’s through PayPal as a cash reward or with one of Bonusly’s vendor partners, including Amazon, Tango Card, and Cadooz. Bonusly also partners with nonprofit organizations to let employees redeem their points via charitable donations.

Bonusly integrates with several collaboration platforms, including Gmail and Slack, to give users the flexibility to give points in whatever venue they choose. Bonusly also has a feed, not unlike social media sites like Twitter, that shows in real-time employees who have received recognition.

Bonusly says that peer-to-peer recognition is more powerful than manager-only recognition, saying it’s nearly 36% more likely to have better financial outcomes. Bonusly competes with companies like Kazoo and Motivocity. The company claims that the biggest differentiation factor is participation.

Financial Signals

In June 2020, Bonusly raised $9 million in a Series A round led by Access Venture Partners. Next Frontier Capital, Operator Partners, and existing investor FirstMark Capital also participated in the round.

Since the pandemic, the company has ramped up its efforts to help companies promote better communication, collaboration, and team cohesion. The company has raised total funding of $12.5 million in five different rounds since its inception.

The confidence level for a job applicant in Bonusly based on the financial signals: High

People Signals

As of today, based on Linkedin data Bonusly has a 120 employee count. Bonusly is headquartered in Boulder, CO, and has teams in Seattle, WA, and New York, NY. 60% of the team currently is based out of CO.

There were a couple of negative employee reviews found online for the company. However, things change very fast at a startup, the Glassdoor reviews seem to be trending back up again. Here is a chart from Glassdoor -

The confidence level for a job applicant in Bonusly based on the people signals: Medium

Traction Signals

Founded in 2013, Bonusly has accumulated about 1,700 customers.

Based on Linkedin data, Bonusly has grown from 44 employees in Dec 2019 to 120 employees in Dec 2021 - a good 173% growth in two years.

Bonusly’s Organic Website Traffic has gone up from 29500 monthly visitors in Jan 2019 to over 45000 monthly visitors in Dec 2021. Clearly, they are seeing good organic traffic growth.

The confidence level for a job applicant in Bonusly based on the traction signals: High

Startup Hound Overall Recommendation

Must Apply ✅

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