Nectar
Nectar (PerkCity, Inc.) is a SaaS culture platform serving 1,700+ mid-market and enterprise organizations with employee recognition, internal communications, and employee listening tools, sold via direct enterprise sales and the SHRM partnership channel.
- Company typePrivate
- Founded2016
- HeadquartersOrem, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Nectar does
Nectar (legally PerkCity, Inc.) is an employee recognition and rewards SaaS platform founded in 2016 and headquartered in Lehi, Utah. The company operates a unified culture platform built around three core products — Nectar Recognize (peer-to-peer recognition tied to company core values with points-based rewards redemption), Nectar Comms (internal communication and announcement broadcasting), and Nectar Engage (employee listening via custom surveys, eNPS, engagement surveys, and analytics). These products are increasingly positioned under the Culture Suite umbrella as a single culture operating system for HR and people leaders.
The underlying technology combines recognition workflows, automated milestone tracking (birthdays, work anniversaries), gamified challenges, nomination programs, and a global rewards catalog with integrations into major HRIS platforms (ADP, BambooHR, Rippling) and communication tools (Microsoft Outlook, Teams, Slack). The platform is SOC 2 Type II compliant, suggesting enterprise-grade security and data handling posture.
Nectar generates revenue primarily through annual SaaS subscriptions sold via direct enterprise field sales under quote-based Master Services Agreements (MSAs), supplemented by a formal Partner Program for resellers and a strategic partnership with SHRM that provides 340,000+ members a 10% discount. The company serves a base of 1,700+ organizations spanning mid-market and enterprise customers across verticals including healthcare, manufacturing, retail, technology, hospitality, professional services, and sports/entertainment — with notable logos including Coca-Cola, Major League Baseball, Golden State Warriors, and SHRM itself. Nectar has raised approximately $58.7M across multiple rounds, including a $40M Series B led by PeakSpan Capital in April 2024.
Nectar firmographics
Firmographics- Name
- Nectar
- Legal name
- PerkCity, Inc.
- Website
- https://nectarhr.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Nectar (PerkCity, Inc.) is a SaaS culture platform serving 1,700+ mid-market and enterprise organizations with employee recognition, internal communications, and employee listening tools, sold via direct enterprise sales and the SHRM partnership channel.
- Ownership category
- akta.pro rank
Where Nectar is headquartered
LocationHeadquarters
- HQ city
- Orem
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Nectar business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- SaaS Subscription: Subscription-based SaaS model where organizations pay for access to the employee recognition and rewards platform. Pricing is quote-based with enterprise agreements (MSA).
- SHRM Partnership Revenue: Revenue generated through SHRM partnership with 10% discount for SHRM members, driving new customer acquisition through the channel partner.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise subscription with custom pricing |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Nectar product offering
Product offeringCore offering
Nectar provides a unified SaaS culture platform that combines employee recognition and rewards, internal communications, and employee listening (surveys, eNPS, engagement, analytics). Organizations use it to enable peer-to-peer recognition tied to company values, automated milestone celebrations, global rewards redemption, internal announcements, and custom engagement surveys through a single integrated offering branded as the Culture Suite.
Product overview
Nectar is a unified culture platform consisting of three core products: Nectar Recognize (recognition and rewards), Nectar Comms (internal communications), and Nectar Engage (employee listening), unified under the Culture Suite umbrella. The platform enables peer-to-peer recognition, automated milestone tracking, gamified challenges, internal announcements, and employee feedback surveys. Additional sub-products include Nomination Program, Community Recognition, Rewards redemption, Mission & Values alignment, Custom Surveys, eNPS, and Analytics. Nectar positions itself as a comprehensive 'culture operating system' for HR and people leaders, with SOC 2 certification and integrations with HRIS platforms (Rippling, ADP, BambooHR) and communication tools (Microsoft Outlook, Teams, Slack).
Differentiator
Problem solved
Functional benefit
Brands
- Nectar Recognize: Recognition & Rewards platform for peer-to-peer recognition, rewards redemption, challenges, milestones, mission and values alignment, and community recognition
- Nectar Comms
- Nectar Engage
- Culture Suite
Products and services
- Nectar Recognize Employee recognition and rewards product enabling peer-to-peer recognition tied to company values, automated milestone celebrations, global rewards catalog redemption, challenges, and mission and values alignment for HR and people leaders.
- Nectar Comms Internal communications product that allows organizations to build, send, manage, and track announcements, newsletters, and employee updates in one place.
- Nectar Engage Employee listening product featuring custom surveys, eNPS, engagement surveys, and analytics dashboards that capture and operationalize employee feedback.
- Culture Suite Unified culture platform combining recognition, rewards, challenges, milestones, mission and values alignment, internal communications, nominations, and community recognition into a single integrated experience for HR and people leaders.
Quantifiable outcome
- Reduce voluntary employee turnover by 29%
- +4 more outcomes
Companies that use Nectar
Customer profileNamed customers8 records
Segments7 records
Ideal customer profiles1 record
Nectar technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature6 records
Nectar partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SHRM (Society for Human Resource Management)flagshipStrategic partnership to elevate employee recognition movement globally. SHRM's 340,000+ members receive 10% discount on Nectar subscriptions. SHRM uses Nectar internally and serves as thought leadership partner. Jim Link, CHRO at SHRM, endorsed the partnership as amplifying recognition to organizations worldwide.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Nectar competitors and assessment
Company assessmentDirect peers
- Kudos: Kudos is a direct competitor offering peer-to-peer employee recognition, rewards and culture analytics, targeting the same mid-market and enterprise HR buyer as Nectar with comparable SaaS mechanics and rewards catalog.
- Achievers: Achievers is an enterprise-focused employee recognition and rewards platform with deep HCM integrations. It overlaps with Nectar at the upper end of the mid-market and in large enterprise deals where global reward fulfillment and analytics are evaluated.
- Bonusly: Bonusly provides a points-based peer recognition platform with a global rewards catalog, directly overlapping with Nectar Recognize in mid-market accounts and competing on integrations, ease of use and price per seat.
- Reward Gateway: Reward Gateway offers an integrated employee engagement platform with recognition, rewards, savings and wellbeing, competing with Nectar's Culture Suite across mid-market and enterprise accounts globally.
- Motivosity: Motivosity delivers peer-to-peer recognition, leadership coaching and rewards tools to mid-market customers, directly competing with Nectar's culture and recognition bundle on price, integrations and program design.
Emerging players
- 15Five: 15Five provides continuous performance management and employee engagement surveys, competing with Nectar Engage and serving many of the same mid-market HR leaders as part of the broader people-operations stack.
- Lattice: Lattice offers performance management, engagement surveys and people analytics, overlapping with Nectar Engage (employee listening/surveys) and increasingly with culture and recognition workflows in mid-market HR stacks.
- Mo (formerly MoBenefits): Mo is an emerging recognition and rewards platform that competes with Nectar in the mid-market with a modern UX and global rewards catalog, often appearing on the same shortlists in HR-tech evaluations.
Broad incumbents
- Workhuman: Workhuman is the category-leading recognition and rewards platform (formerly Globoforce), serving large global enterprises. It competes with Nectar on enterprise deals and set industry editorial benchmarks (e.g., its Top 20 recognition ranking that lists Nectar).
- Workday: Workday is a dominant HCM cloud suite that has been progressively adding recognition, listening and engagement capabilities. It competes with Nectar via native modules and partner ecosystem risk for joint Workday customers.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Nectar social profiles
Digital presenceNectar compliance and trust
Trust signalCompliance1 record
Nectar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nectar leadership team
Management profileNumber of profiles
Profiles6 records
Nectar funding detail
Funding detailFunding overview
Funding rounds5 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nectar M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nectar
What does Nectar do?
Nectar provides a unified SaaS culture platform that combines employee recognition and rewards, internal communications, and employee listening (surveys, eNPS, engagement, analytics). Organizations use it to enable peer-to-peer recognition tied to company values, automated milestone celebrations, global rewards redemption, internal announcements, and custom engagement surveys through a single integrated offering branded as the Culture Suite.
Is Nectar a public or private company?
Nectar is a private company. It is classified as venture growth investor backed and is currently operating.
When was Nectar founded?
Nectar was founded in 2016. It employs 251 to 500 people.
Where is Nectar based?
Nectar is headquartered in Orem, United States, in the North America region.
How does Nectar make money?
Two revenue lines are on record. SaaS Subscription is the primary driver. The others are SHRM Partnership Revenue.
Who are Nectar's main competitors?
Direct peers on record are Kudos, Achievers, Bonusly, Reward Gateway and Motivosity. Emerging players are 15Five, Lattice and Mo (formerly MoBenefits). Broad incumbents are Workhuman and Workday.
Does Nectar have an API?
No public API is recorded for Nectar.