Blueboard

About Blueboard

Blueboard operated as a B2B employee recognition and incentives platform, founded on the principle of offering experiential rewards over monetary or gift card-based compensation. The company was established in 2014 by co-founders Taylor Smith (CEO) and Kevin Yip (COO). Their journey began as childhood friends who, after entering the corporate world at Accenture and PwC respectively, felt that the standard employee recognition, like gift cards, was impersonal and failed to motivate. This shared frustration led them to create a platform centered on providing employees with meaningful experiences, from spa days and surf lessons to bucket-list travel adventures.

The company's business model focused on providing a software platform that enabled client companies of all sizes to reward their employees. Clients could use the platform for various recognition programs, including sales incentives, anniversary awards, spot recognition, and employee referral incentives. Blueboard’s service included a curated menu of over 4,000 experiences in more than 70 countries, with a dedicated concierge team that handled all logistics, planning, and booking for the recipient. This high-touch service was a key differentiator, removing the friction often associated with planning and allowing employees to simply enjoy their chosen activity. The platform also offered analytics for companies to measure the impact of their recognition programs on employee engagement.

Blueboard secured a total of $15.8 million in venture capital, including a $9.3 million Series A round in September 2020 co-led by Origin Ventures. The company demonstrated significant growth, reporting a 608% increase in revenue between its 2018 and 2020 funding rounds and earning a spot on the Inc. 5000 list of fastest-growing companies. Its client roster included notable companies like Shake Shack, Pinterest, and Ubisoft. In response to the COVID-19 pandemic, Blueboard adapted by launching over 130 in-home and virtual experiences, such as online cooking classes and art lessons, to maintain employee morale during remote work. Despite its apparent success and growth, Blueboard abruptly ceased operations on March 12, 2024, citing financial difficulties and leaving clients and employees without access to funded rewards.