Awardco: $165M growth round with Spectrum Equity & Sixth Street (May 2025)

What's the deal? In May 2025 Awardco announced a $165 million Series B co-led by Sixth Street Growth and Spectrum Equity, with participation from existing investors General Catalyst and Ryan Smith, at a valuation above $1 billion. Spectrum’s announcement framed the round as strategic growth capital for employee rewards, recognition, and engagement software.

Context Awardco (Lindon, Utah) builds a global recognition and rewards platform used by enterprises to drive engagement and performance. Spectrum and Sixth Street are both recorded as lead investors alongside General Catalyst and Ryan Smith.

Source PR Newswire — Awardco $165M / $1B+ valuation; Spectrum Equity — Awardco investment.