Bonusly, an engaging recognition and rewards platform that connects teams and enriches company culture, announced today that Ankona Capital led its Series B investment round of $18.9 million. Existing investors included FirstMark Capital, Access Venture Partners, and Next Frontier Capital.

Bonusly is headquartered in Boulder, Colorado. By using Bonusly tools, you can celebrate everyday contributions and key milestones, automate time-consuming HR admin processes, incentivize participation in company efforts, and motivate your employees with digital rewards.

“This new capital will allow us to expand and build on the strong foundation we have in place, allowing companies to meet the constantly changing people challenges of today's volatile economy," said Bonusly founder and CEO Raphael Crawford-Marks. "Since our Series B, we have seen our valuation more than triple, despite the multiple compression that has occurred in today's market — a strong recognition of the value we already provide and the even greater opportunity that lies ahead. We've only just begun."