Sequoia Leads $24.5M Funding Round For Employee Rewards Company Achievers

Employee rewards services company Achievers, formerly known as I Love Rewards, has raised $24.5 million in a Series C round of financing led by Sequoia Capital, with earlier backers JLA Ventures, GrandBanks Capital and the Ontario Venture Capital Fund participating. The round brings the company’s total of funding raised to $38 million.

Achievers targets organizations between 500 employees, up to Fortune 500 companies, looking to enhance employee engagement through social software.

Customers include Marriott, Deloitte, 3M and Microsoft.

We’re told that the company is expanding at a rapid rate, experiencing 100+ percent employee growth year-over-year; they’re now at 150 employees in North America.

Achievers also just moved its US headquarters to San Francisco (from Toronto), along with its CEO Razor Suleman.