Achievers Explained

Type:Private
Industry:Human capital management software
Foundation:Toronto, Canada
Founder:Razor Suleman

Achievers is a Canadian employee engagement and recognition software company co-headquartered in Toronto, Canada, Victoria, Australia, and Manchester, UK.[1]

History

Achievers (formerly I Love Rewards[2]) was founded in 2002 by Razor Suleman in Toronto, Canada.[3] He decided to start Achievers upon being appointed to provide a solution for a consulting project for a large corporate client that wasn't having a lot of success motivating their employees.[4] [5] In 2007, Achievers raised $3.3 million in its Series A funding round led by Laurence Capital, Relay Ventures,[6] [7] and JLA Ventures followed by a Series B funding round worth $6.9 million in 2009. In September 2010, the company opened its office in Boston and changed its name to Achievers,[8] and in May 2011 opened its office in San Francisco, California to function as the company's US headquarters.[9]

In September 2011, Achievers received $24.5 million in its Series C funding round led by Alfred Lin's American venture capital firm, Sequoia Capital, and supported by GrandBanks Capital, JLA Ventures and Ontario's Venture Capital Fund.[10] [11] [12] In the same year, Suleman was named a recipient of the Ernst & Young Entrepreneur of The Year Award.[13]

In 2015, Suleman sold Achievers to Blackhawk Network for $150 million.[14] [15] In 2018, Blackhawk went from a public company to a private company, during which time Achievers spun out from Blackhawk as a separate entity and is now co-owned by Silver Lake and P2 Capital Partners.[16] [17]

In 2020, Achievers acquired TemboSocial, a Canadian software startup that develops employee recognition and feedback solutions.[18] [19]

Achievers has been recognized by numerous organizations for its workplace culture and technological achievements, including Great Place to Work,[20] HRO Today's Bakers Dozen,[21] Brandon Hall Group, Stevie award[22] and ranked in the second place in the smaller-business category of this year's Best GTA Employers awards in 2011.

Achievers software

The Achievers employee experience platform is designed to provide HR teams with a suite of employee engagement programs to connect employees and build cultures of belonging.

External links

Notes and References

  1. Web site: Takahashi . Dean . 2011-09-29 . Achievers raises $24.5M for employee rewards platform . 2023-12-08 . VentureBeat . en-US.
  2. Web site: Cohan . Peter . Achievers Gets Sequoia's Capital To Boost Employee Engagement . 2023-12-08 . Forbes . en.
  3. Web site: Cohan . Peter . Can $38 Billion Employee Incentives Industry Boost Corporate Profits? . 2023-12-08 . Forbes . en.
  4. Web site: Kosoff . Maya . Why a founder on track to take his company public sold it for $110 million in cash instead . 2023-12-08 . Business Insider . en-US.
  5. News: 2012-11-16 . How this employer stopped worker exodus . en-CA . The Globe and Mail . 2023-12-08.
  6. Web site: Achievers . 2023-12-08 . app.dealroom.co.
  7. News: Toronto's Achievers snags US$24.5M in financing . Financial Post .
  8. Web site: Star . Peter Gorrie Special to the . 2011-11-23 . Enthusiasm key to fast-growing rewards company . 2023-12-01 . Toronto Star . en.
  9. Web site: Casserly . Meghan . Find A Job The Online Dating Way . 2023-12-08 . Forbes . en.
  10. News: 2011-09-28 . Employee reward site raises $24.5 millon from Sequoia . en-US . Reuters . 2023-12-08.
  11. Web site: Cohan . Peter . Achievers Gets Sequoia's Capital To Boost Employee Engagement . 2023-12-08 . Forbes . en.
  12. News: 2011-10-07 . Why would a company change its name? . en-CA . The Globe and Mail . 2023-12-01.
  13. Web site: Falconer . Kirk . 2016-09-07 . Achievers' founder Razor Suleman appointed CEO of NEXT Canada . 2023-12-08 . Venture Capital Journal . en-US.
  14. Web site: 2015-06-11 . Gift Card Seller Blackhawk Expands With Achievers Buy . 2023-12-08 . Investor's Business Daily . en-US.
  15. News: Entrepreneur incubator Next 36 hires its first CEO in tech millionaire Razor Suleman . Financial Post .
  16. Web site: 2020-10-22 . Two years after its own acquisition, Achievers buys TemboSocial BetaKit . 2023-12-01 . en-CA.
  17. News: 2018-01-16 . U.S. fintech firm Blackhawk to go private in $3.5 billion deal . en-US . Reuters . 2023-12-01.
  18. Web site: 2020-10-22 . Two years after its own acquisition, Achievers buys TemboSocial BetaKit . 2023-12-08 . en-CA.
  19. Web site: PetSmart and Chewy are splitting three years after their tie-up . 2023-12-03 . Fortune . en.
  20. News: 2022-04-29 . Best Workplaces in Canada 2022: 100-999 employees . en-CA . The Globe and Mail . 2023-12-08.
  21. Web site: Roth . Audrey . 2014-08-19 . Real-Time Rewards . 2023-12-08 . HRO Today . en-US.
  22. Web site: 2023 Winners in the Stevie Awards for Sales & Customer Service . 2023-12-08 . mobile.stevieawards.com.

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