Reward Gateway, a global HR technology and employee engagement company, is to be acquired by Abry Partners and Castik Capital.
The acquisition of Reward Gateway validates the company’s strategic vision, expansive growth strategy, and the value its products and services deliver to clients. Previously controlled by Great Hill Partners, the company has seen more than 180 per cent growth in revenue since 2015 and currently supports more than 1,900 customers with over five million employees globally.
Reward Gateway offers a leading SaaS employee engagement platform that centralises employee reward and recognition, discounts, communications, surveys, wellbeing and flexible benefits. Its strategic products support companies with today’s most difficult people challenges, such as the digitalisation of the workplace, attracting and retaining talent, aligning and supporting remote workforces and handling complex cultural issues.
“I could not be more proud of the Reward Gateway team for living our mission and delighting our customers every single day by helping thousands of organisations promote employee engagement, enhance culture and improve business outcomes,” says Doug Butler, CEO of Reward Gateway. “We are grateful for Great Hill’s support and guidance, and excited to work with new partners who also understand and appreciate our core values, and who will support our vision for product innovation and growth, both organic and through acquisitions.”
Brian St Jean, Partner at Abry Partners, says: “Reward Gateway’s reputation as a leader and innovator in the employee engagement technology industry is well-earned, as evidenced by its world class NPS score of 72 and the clear demand for the solutions it brings to market. We look forward to partnering with the Reward Gateway Leadership Team to continue the company’s fast-paced growth and further support its mission, culture and customers.”
Michael Phillips, Partner at Castik Capital, says: “As the world begins to return to a new normal, employee engagement will only become more important. Companies must navigate the complexities of in-person, remote and hybrid workforces, which will create an entire new set of challenges for HR professionals that Reward Gateway is well positioned to help solve.”
Chris Busby, Partner at Great Hill Partners, says: “We are so proud to have partnered with Reward Gateway to support a period of exceptional company growth, and its mission to make the world a better place to work. We would like to thank the leadership, and the entire Reward Gateway team, for their outstanding execution in growing the company, and building intuitive products with a focus on delighting their customers. Reward Gateway is extremely well positioned for continued success in the years to come.”
The transaction is expected to be completed in the third quarter of 2021, subject to customary closing conditions, including regulatory approvals. Terms of the agreement were not disclosed.
Great Hill Partners and Reward Gateway received financial advice from William Blair & Company and legal advice from Squire Patton Boggs and Osborne Clarke.