Tuesday, October 04, 2011

Achievers raises $24.5MM Series C - Sequoia, JLA, GrandBanks, Northleaf

Achievers (formerly I Love Rewards), the fastest-growing global employee rewards and Social Recognition company, announced today that it has secured $24.5 million in a Series C financing, led by Sequoia Capital with existing investors, JLA Ventures, GrandBanks Capital and the Ontario Venture Capital Fund (Managed by NorthLeaf Capital).

"Employee rewards and recognition is a $48 billion industry that is highly fragmented, largely manual and lacking in the metrics to prove-out the ROI," said Alfred Lin, a Partner at Sequoia Capital and board member at Achievers. "Achievers' customer centric business model and SaaS technology platform is on a path to disrupt this market. We're excited to join Achievers to meet the demands of the modern workplace."

About Achievers:
Achievers (formerly I Love Rewards) is passionate about employee rewards and Social Recognition. Our software helps engage employees and inspire performance globally. Achievers' customers include Deloitte, 3M and Microsoft. Achievers' investors include Sequoia Capital, JLA Ventures, GrandBanks Capital, and the Ontario Venture Capital Fund. The Social Recognition platform provides performance-based recognition and rewards in the form of points that can be redeemed for meaningful rewards including Apple, Visa Reward Cards, and Expedia travel. Check us out on the web www.achievers.com

Razor Suleman

Founder & Chief Executive Officer
5 Things You Need to Know About Razor

1) He is a serial entrepreneur who started his first business at 15
2) He loves to learn; graduated from WLU’s School of Business and MIT’s Entrepreneurial Masters Program.
3) He is completely unemployable. Fortunately he’s a great entrepreneur and has won BDC’s Entrepreneur of the Year.
4) He is passionate about leaving the world a little better than he found it through the Achievers mission and charity work.
5) He has led Achievers to be recognized as a top employer and fastest growing company in North America.
Fun Fact: He’s often seen wearing Rock & Republic jeans, drinking Cosmos in public and is madly in love with his wife Kari.

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