In your parents’ generation, companies would sometimes reward employees with generic gifts that ranged anywhere from a cash bonus to a shiny new pen.
As exciting as that might sound, the founders of Snappy are changing the way companies show appreciation for their teams. The startup just raised $10 million to make corporate gift giving more personalized and fun. Think: fewer pens; more swanky tech gear.
“One of the best ways to foster loyalty amongst employees is to recognize their hard work and dedication,” said CEO and co-founder Hani Goldstein. “We feel that companies are starting to understand how small acts of appreciation can have a huge impact on the motivation and day-to-day work of their employees.”
One of the best ways to foster loyalty amongst employees is to recognize their hard work and dedication."
By “small acts of appreciation,” Goldstein is referring to the various Snappy offerings, which include things like Alexa-enabled tablets, activity trackers, coffeemakers, handbags and other luxe goodies.
“In comparison to cash and monetary incentives, gifts help employees feel more appreciated,” she said. “When employees are at a place that makes them feel valued, they don’t look to go anywhere else.”
Snappy sources gifts from leading brands and retailers. They range anywhere from $15-$1,000 in price and include tangible items as well as experiences — a company could provide a hot air balloon ride, cooking class or international vacation for an employee.
The funding round was led by 83North with participation from Hearst Ventures. The company works with 170 enterprise clients around the world, and will use the capital to meet the growing customer demand.
“Our long-term goals for the company are to expand our product roadmap and to offer our services for customer loyalty, marketing and sales as well as consumer gifts,” said Goldstein. “Our vision is to become the leading gifting platform.”