Nectar Announces $40 Million in Series B Committed Funding to Expand Culture Platform

Originally published here at PR.com

Orem, UT, April 18, 2024 --(PR.com)-- Nectar, a culture platform specializing in employee recognition and rewards, has partnered with PeakSpan Capital to accelerate the growth and expansion of its platform and suite of product services. PeakSpan Capital is a prominent growth equity firm renowned for its strategic investments in high-potential technology companies.

Empowering Organizational Culture

This significant investment will enable Nectar to further develop its culture platform, empowering organizations worldwide to cultivate vibrant and engaged workplace environments built on recognition. This will include large investments into the core recognition product, as well as additional strategic products which will enable companies to build strong organizational cultures.

Advancing Innovation and Impact

With the support of PeakSpan Capital, Nectar is poised to advance innovation in key areas, including additional features, scalability, and user experience. The infusion of capital will also fuel research and development efforts, ensuring Nectar remains at the forefront of the industry, delivering impactful solutions to its growing client-base.

"We are thrilled to partner with PeakSpan Capital in this exciting phase of our journey," said Trevor Larson, Nectar CEO. "This investment underscores the confidence in our vision to revolutionize organizational culture. With PeakSpan's expertise and support, we are well-positioned to drive meaningful change and empower businesses to help employees feel valued and appreciated at work.”

Phil Dur, Managing Partner and Co-Founder of PeakSpan, noted: “PeakSpan was built to serve entrepreneurs looking to bring disruptive and pioneering solutions to underserved market segments. The Nectar team astounded us with their best-in-class capital efficient growth, incredible vision as the emerging culture platform leader for the mid-market, and their tenacity and grit. We see an incredible opportunity for Nectar to drive improved employee engagement, connectedness, and alignment for their clients and couldn’t be more privileged to be their partner.”