Kudos, a Calgary-based employee recognition, people analytics and organizational communications platform, has secured a growth equity investment of C$10 million. The investor was Canadian Business Growth Fund. The deal’s proceeds will support Kudo’s expansion in the global human resources and work technology market.
Kudos® Accelerates Market Dominance in Employee Recognition with Announcement of Growth Equity Investment by CBGF
CALGARY, Alberta, Dec. 6, 2021 /CNW/ — Market-leading employee recognition, people analytics, and organizational communications platform Kudos®, Inc. (“Kudos®”) announces Canadian Business Growth Fund’s (CBGF) $10 million minority equity investment in the rapidly expanding company. The Canadian tech firm began an accelerated growth trajectory with unprecedented growth at the end of Q4 2020 and has only continued to build momentum from there. This investment further positions Kudos® for global expansion; Calgary-based Kudos® is expected to double its headcount to 120 employees in the Calgary area and across Canada by the end of 2022.
Kudos® is taking a bold position in the HR and work technology market through their proprietary Performance Recognition™ approach that puts recognition first and creates lasting organizational performance and culture changes. Other rewards-focused vendors only generate short-term behavioral changes. In contrast, Kudos® continues to invest in technology to better understand employee behaviors, identify performance at all levels, and promote positive workplace culture.
Kudos®’ recognition-first approach provides companies with meaningful insights through Kudos® Analytics. These built-in people analytics empower clients to assess pain points to prevent employee turnover, drive performance amongst their teams, and develop a better understanding of their employee experience.
Kudos® is used in 80 countries by clients operating in a broad range of industries with remote, field, hybrid, and on-site teams. The Kudos® platform addresses many of the root causes of employee disengagement – a major contributing factor to the Great Resignation many employers are experiencing.
“Today’s multi-generational workforce has unique needs and expectations, exacerbated by a shift to remote and hybrid environments. Creating culture online is hard. High-performing organizations are adapting quickly – they are committed to measuring and enabling employee recognition, culture, and performance.” said Muni Boga, CEO and Co-Founder of Kudos®. “Kudos® is a strategic technology partner for such organizations. This investment from CBGF will empower us to help more organizations worldwide make the necessary shift towards long-term employee enablement and improved company performance.”
“As the forces of the Great Resignation continue to impact companies across the world, Kudos® is positioned to fuel employee retention through long-term culture optimization, meaningful, and effective employee recognition, and impactful communication,” said George Rossolatos, CEO of CBGF. “At CBGF, we value growth through innovation and have an organizational commitment to put our employees first to best support our partnerships. That natural value-alignment with the great work Kudos® is doing makes this partnership a natural fit – we look forward to the growth ahead.”
About Kudos®: Kudos® is an employee engagement, culture, and analytics platform, that harnesses the power of peer-to-peer recognition, values reinforcement, and open communication to help organizations boost employee engagement, reduce turnover, improve culture, and drive productivity and performance. Kudos® uses unique proprietary methodologies to deliver essential people analytics on culture, performance, equity, and inclusion, providing organizations with deep insights and a clear understanding of their workforce. Based in Calgary, Alberta, Canada, the Kudos® platform is used in over 80 countries on six continents in a wide variety of industries and languages.
About CBGF: The Canadian Business Growth Fund (CBGF) provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses with investments between $3 to $20 million. An evergreen investment fund with capital commitments of $545 million, CBGF is committed to long-term partnerships with the companies it invests in. As part of its mission to drive growth, CBGF connects business leaders and sector experts to help its partner businesses achieve their full potential. For companies seeking investment opportunities, please email us at firstname.lastname@example.org. To learn more, please visit us at www.cbgf.com.