The Story

At Latecheckout we had an internal tokenized system of LC rewards. Latecheckout tokens could buy you actual rewards within the company, like a lunch or a flight to a tropical destination. You earned these tokens by participating in social events like hackathons or coffee chats. I loved this idea, and it did actually incentivize me to go the extra mile and engage directly with team members I wouldn’t normally see.

We decided to partner up for Cashew. My good friend and previous business partner Alex Gillis has developed and worked with workplace rewards systems throughout his career, and we’ve been trying the nail down the best iteration of what that system could be.

We ultimately settled on Cashew, which is effectively a social rewards platform which rewards employees for socializing and participating in building social connections within the company. Effectively incentivizing team building with tangible rewards. I.E CashewCash.

We added additional functionality to this by making it into a social media platform with rolling weekly, monthly, and quarterly competitions. We added monitoring features to help employers see who are the employees making the biggest impact on Cashew, and we added slots for sponsored brand deals wherein employees could win sponsored prizes from companies they may have an affinity towards.

We pitched this idea to several VC’s but ultimately failed to secure funding as the post pandemic back to office movement had already begun in full force.