San Francisco-based company Blueboard, a rewards and recognition platform used to engage employees and top-performers with curated experiences, raised US$ 9.3M on 24 September, as it closed its Series A round. The total funds raised by Blueboard till now stands at US$ 15.8.
The round was led by Origin Ventures, an early-stage venture capital firm focused on software and marketplace businesses. Other participants in the Series A funding include Greycroft, Bullpen Capital, Plug and Play, Gaingels, and Martin Babinec, founder of TriNet, a health and benefits giant.
The funds raised will be used to invest heavily in the technology powering their products, platform, and enterprise capabilities and also for international expansion to support a growing roster of global Fortune 500 clients.
Blueboard is an experiential reward and recognition platform for the modern workplace. It was founded in 2013, by Kevin Yip, Taylor Smith. The rewards platform allows companies to reward their employees with curated experiences and activities with the click of a button. The activities range from skydiving, wine tasting, massage, and mixology. Its clients love the fact that it has made memorable and meaningful recognition as easy as sending a gift card.
Blueboard allows companies to create personalized employee recognition and incentive programs. This helps them elevate their best talent. Top-performing employees can be rewarded with exceptional experiences. Recipients of the reward are free to choose the experience that’s most meaningful to them. All the bookings, payments and logistics are also handled by Blueboard itself.
“At Blueboard we’ve always believed that traditional employee rewards and incentives are unremarkable, impersonal, and too transactional to motivate people. We’re proud to enable hundreds of companies to create impactful moments with ease,” said Taylor Smith, Co-Founder and CEO at Blueboard.
Over the past 2 years, Blueboard has offered more than 4,000 personalized experiences in over 70 countries. Blueboard’s unique model has attracted numerous companies including Abbott’s diabetes care business, Pinterest, Shake Shack, and Ubisoft. Even during the lockdown, while employees are working remotely, Blueboard’s customers were able to leverage more than 130 in-home and virtual experiences.
What Investors have to say
“Blueboard offers a network of uncommonly memorable experiences at scale – allowing companies to make an indelible impression on employees for rewards and recognition. We believe this ‘experience network’ will play an increasingly important role in maintaining great company culture in a future that includes a variety of work situations. We are very enthusiastic supporters of Taylor and Kevin as they continue to add a variety of new experiences, and develop more programs to serve even more companies and their employees,” said Brent Hill, Partner at Origin Ventures.
“Employee engagement and HR practices are critical drivers for company growth, particularly in the distributed world we live in today. We’re excited for Blueboard to lead this fast-growing market with a unique approach to employee recognition and company culture,” said Mark Terbeek, Partner at Greycroft.
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