Reward Gateway
Reward Gateway is a provider of employee engagement technology including employee benefits services, total reward systems and discounts on shopping and services to employees of over 900 clients worldwide. The company changed its name from Asperity Employee Benefits to Reward Gateway in 2013.
History
Reward Gateway was founded in 2006 by Glenn Elliott. Elliott used the money he received from the sale of the company N1 Creative to finance the new company. Reward Gateway was created in order to provide discounts to everyday retailers through a program that was 100% employer funded, in order to reduce administrative costs. Elliott sold the company in 2010 for £25.5 million to Inflexion Private Equity, although Elliott retained a 25% stake in the company as well as control over day-to-day operations. By 2008 Reward Gateway discounts covered more than 1500 different retailers. Between 2007 and 2011 the company acquired more than 650 client companies and by 2011 the company's discounts covered more than 3000 retailers. Reward Gateway became the largest provider of flexible employee benefits in the UK.
Business overview
The company's core product is an employee discount service called Reward Gateway, the largest discounted employee shopping programme in the UK. In the programs it provides, income from retail firms is passed to their employees in the form of discounts, rebates and cashback on other companies' products and services. The firm has won a number of industry awards and received industry press for some of its initiatives.
It also administers UK government approved Childcare Vouchers and Cycle to Work programmes. In 2010 it added a Reward & Recognition service to the product offering. It formerly published an industry magazine "Benefits Connection" comprising articles on strategic issues for HR and reward professionals. Benefits Connection is distributed quarterly to 11,000 readers of Centaur's Employee Benefits Magazine. Asperity management has also been interviewed by news sources regarding current events issues pertaining to employee benefits.
In 2009 the company became the first UK benefits provider to attain ISO27001 accreditation for information security. Reward Gateway acquired "Bringme" from Lloyds TSB Bank plc in October 2007 in a deal which added 200,000 employees to Reward Gateway's reach. On 1 December 2010, the company was acquired by Inflexion Private Equity for £25.5m
In March 2014 Reward Gateway acquired the user-centered software house Dazines adding 30 additional software engineers to the company.
Awards
Between 2008 and 2011, the company was the 2nd fastest growing technology company in the UK, as listed by the Sunday Times Tech Track 2011. In 2012, it was the 9th fastest growing technology company in Europe, as rated in the GP Bullhound Media Momentum Top 50. In 2011, the company won both the NatWest Fast Growth Business of the Year and the Service Business of the Year in the Fast Growth Business Awards published by Growing Business Magazine.