the reward store (a vananam company)

What the reward store (a vananam company) does

The Reward Store is a B2B SaaS rewards platform that operates as a subsidiary of Vananam, headquartered in Bengaluru, India, and provides an integrated suite of products covering employee recognition, consumer loyalty, channel partner incentives, and gift card distribution. Its product portfolio includes ApplaudIQ (employee recognition), Rekyndl (consumer loyalty), Paytives (channel partner incentives), RedeemStack (gift card API), Orchestro (gift card aggregation), Physical Gifting, TRS Storefront, Cherishd, and Reward Factory, supported by a catalog of 5,000+ gift cards across 100+ countries. The platform is API-first, with native integrations to Salesforce, HubSpot, Zoho CRM, SAP, Slack, and Microsoft Teams, and offers multi-currency reward delivery, real-time performance tracking, automated incentive calculation, a no-code loyalty program builder, gamification, and customer segmentation. The company has expanded operations into Singapore, the United Arab Emirates, and the United States, and serves 250+ clients including Workhuman, HP, Kafqa, and YouGotAGift, with 100M USD of business volume processed in 2024.

The Reward Store operates a B2B SaaS business model that combines enterprise subscription pricing with transaction-based fees on gift card procurement and distribution, monetizing the 100M USD of annual business volume that flows through the platform. The go-to-market strategy relies on direct enterprise sales, evidenced by 'Book a Demo' calls-to-action, complemented by self-service entry points and active content marketing across three LinkedIn newsletters. The company is privately held and founder-controlled through the Vananam parent, with no disclosed external funding rounds to date, indicating growth has been organic and self-funded. Operating leadership comprises Keshav Inani (Group CEO), Mahendra Rathod (Group COO), and Joshua Gautham (Group Deputy COO), with team additions drawn from direct competitors including Xoxoday and Capillary.

Name

the reward store (a vananam company)

Legal name

Vananam Rewards Private Limited

Website

https://therewardstore.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

The Reward Store is a B2B SaaS rewards platform offering employee recognition, consumer loyalty, channel partner incentives, and gift card distribution across 100+ countries. Founded in 2022, it serves 250+ enterprise clients globally.

Ownership category

akta.pro rank

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. SaaS Platform Subscription: B2B SaaS platform providing employee recognition, consumer loyalty, channel partner incentives, and gift card programmes through a connected platform. Revenue likely generated through subscription fees and/or transaction-based pricing per user or reward delivered.
2. Gift Card and Reward Distribution: Platform facilitates distribution of 5,000+ gift cards across 100+ countries. Revenue may include markups or fees on gift card procurement and distribution.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

The Reward Store is a B2B SaaS platform that enables businesses to run employee rewards, recognition, channel incentive, and customer loyalty programs through digital gift cards, points-based redemption, physical gifting, and storefront-based reward distribution. Its offering combines recognition, engagement, redemption orchestration, and a global rewards catalog into a unified software suite sold to enterprise and mid-market organizations.

Product overview

The Reward Store is a B2B SaaS rewards platform offered by Vananam that operates as an all-in-one solution for global rewards, benefits, and perks. The platform provides a multi-product portfolio spanning employee recognition (ApplaudIQ), consumer loyalty (Rekyndl), channel partner incentives (Paytives), and gift card infrastructure (RedeemStack, Orchestro, Reward Factory), complemented by physical gifting services (Physical Gifting/Cherishd) and a ready-to-use storefront (TRS Storefront). The architecture combines a unified platform approach with specialized modules that can be deployed independently or together, supporting reward delivery across 100+ countries with 5,000+ gift card options.

Differentiator

Problem solved

Functional benefit

Brands

• ApplaudIQ: Employee rewards and recognition platform that integrates with Slack and Microsoft Teams for peer-to-peer recognition, point distribution, tiered rewards, and milestone celebrations.
• Rekyndl
• RedeemStack
• Paytives
• Orchestro
• Physical Gifting
• TRS Storefront
• Cherishd
• Reward Factory

Products and services

• ApplaudIQ Employee recognition platform that enables organizations to run structured peer-to-peer and manager-led recognition programs as part of their employee rewards strategy.
• Rekyndl Engagement platform within The Reward Store suite designed to drive employee and stakeholder engagement programs for businesses.
• RedeemStack Reward redemption platform that enables employees, partners, and customers to redeem earned points or rewards through a unified digital experience.
• Paytives Digital incentives platform that delivers digital gift cards, vouchers, and prepaid incentives to employees, channel partners, and customers.
• Orchestro Loyalty orchestration platform that enables businesses to design, manage, and operate customer and channel loyalty programs with rules, points, and rewards logic.
• Physical Gifting Physical gifting service that sources, packages, and delivers tangible gifts and merchandise as part of corporate reward and recognition programs.
• TRS Storefront White-labeled customer-facing storefront product that lets businesses offer a branded rewards catalog for redeeming earned points, gift cards, and merchandise.

Quantifiable outcome

• Companies with engaged employees report 23% higher profitability (Gallup)
• +6 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability2 records

Feature9 records

Partnerships

Six partnerships are on record, tiered core.

• SalesforcecoreTechnology or IntegrationCRM integration via REST API allowing sales data to flow automatically into Paytives, triggering incentive calculations without manual data export/import cycles. Supports automated verification of sales for incentive claims.
• HubSpotcoreTechnology or IntegrationCRM integration via REST API connecting HubSpot customer and sales data with Paytives incentive platform for automated reward calculations.
• Zoho CRMcoreTechnology or IntegrationCRM integration via REST API connecting Zoho customer and sales data with Paytives for automated incentive calculations and verification.
• SAPcoreTechnology or IntegrationEnterprise ERP integration via REST API connecting SAP data with Paytives for seamless incentive programme management at enterprise scale.
• SlackcoreTechnology or IntegrationNative integration with Slack allowing employees to send peer recognition, view points balance, and receive reward notifications without leaving their communication tool. Part of ApplaudIQ employee recognition platform.
• Microsoft TeamscoreTechnology or IntegrationNative integration with Microsoft Teams enabling recognition capabilities within the Teams environment. Employees can send peer recognition, view points balance, and receive reward notifications directly in Teams.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Xoxoday: Xoxoday is an India-based B2B SaaS rewards, incentives, and employee engagement platform offering gift cards, prepaid, and recognition products globally. It is the closest direct competitor to The Reward Store with overlapping employee recognition, channel incentive, and gift card catalog capabilities.
• Tango Card: Tango Card (now part of Blackhawk Network) operates a global gift card rewards API and Rewards as a Service platform that powers 1,000+ brands. Its Rewards Builder API competes head-to-head with RedeemStack for embed and burn-partner use cases.
• Tremendous: Tremendous is a global payout platform that enables businesses to send gift cards, prepaid cards, and donations across 200+ countries via a single API. It directly competes with RedeemStack and Orchestro on global gift card distribution and redemption infrastructure.
• AdvantageClub: AdvantageClub is an India- and US-based AI-driven employee engagement and rewards platform offering recognition, wellness, and perks. It directly competes with ApplaudIQ and the broader rewards suite, particularly in India and emerging markets.
• Vantage Circle: Vantage Circle is an India-based employee engagement and rewards platform offering employee benefits, recognition, and corporate discounts. It overlaps directly with ApplaudIQ and the broader employee rewards layer of TRS's platform.
• Awardco: Awardco is a US-based employee recognition and rewards platform integrated with Amazon Business for global catalog access. It directly competes with ApplaudIQ in employee recognition while sharing the global gift card distribution model.

Broad incumbents

• Workhuman: Workhuman is a leading global employee recognition platform (formerly Globoforce) serving enterprise clients with peer-to-peer recognition, service anniversary, and rewards programs. It competes broadly with ApplaudIQ as a deep, well-funded incumbent in employee recognition.
• Blackhawk Network: Blackhawk Network is a global branded payments and gift card distribution network connecting brands to consumers through physical and digital channels. As Tango Card's parent and a broad industry incumbent, it competes with Orchestro and RedeemStack at scale.
• Reward Gateway: Reward Gateway is a UK-based employee engagement platform offering recognition, rewards, benefits, and wellbeing across global enterprise clients. It is a broad incumbent competitor to ApplaudIQ and the broader employee rewards layer.

Emerging players

• Plum: Plum is an India-based employee benefits and health insurance platform expanding into broader rewards and perks. It is an emerging player intersecting with TRS's employee rewards and benefits offerings, primarily in the Indian market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/therewardstore
• Instagraminstagram.com/therewardstore
• Xx.com/therewardstore
• Facebookfacebook.com/therewardstore

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about the reward store (a vananam company)