September 13th, 2018

// Carrot Rewards ranks Top 20 on the Canadian Business and Maclean’s 2018 Startup 50

Canadian public engagement platform Carrot Rewards ranks Top 20 on the Canadian Business and Maclean's 2018 Startup 50


TORONTO, Sept. 13, 2018 /CNW/ - Carrot Rewards — the world's first public engagement platform that rewards users for making healthier lifestyle choices — is thrilled to announce its ranking on the 2018 Startup 50, the coveted annual list of Canada's Top New Growth Companies ranked by Canadian Business and Maclean's.

"We're very proud to be recognized in the top 20 by this prestigious program. We've only just begun. There is so much more impact and so much more positive behaviour change to deliver for millions of Canadians in the months and years to come," said Andreas Souvaliotis, Founder and CEO of Carrot Rewards.

Serving as a companion list to the longstanding Growth 500 ranking of Canada's Fastest-Growing Companies, the Startup 50 ranks younger companies on two-year revenue growth. Carrot Rewards achieved the #19 spot on the 2018 Startup 50 list with two-year revenue growth of over 800%.

This announcement comes as Carrot Rewards prepares to make its free platform available across the rest of Canada on November 1, 2018. Currently the popular app has unparalleled engagement with nearly one million registered app users, including a remarkable 12% population penetration rate in downtown Toronto, 10% penetration in Newfoundland and Labrador and 8% penetration in Vancouver.

Carrot Rewards users have tracked one trillion steps and completed 25 million healthy lifestyle and micro-learning quizzes and surveys since the launch of the app in June 2016. In return, users have earned more than 1.5 billion rewards points from their favourite loyalty programs including Aeroplan, SCENE, Petro-Points, More Rewards, Drop and RBC Rewards — perks that are equivalent to 600,000 free movie tickets and much more.

About Carrot Rewards
Carrot Rewards is an AI-driven public engagement platform that leverages behavioural economics and nudge theory to motivate Canadians to make better everyday lifestyle choices. Carrot Rewards harnesses the power of the most popular consumer loyalty programs in Canada to maximize its appeal and user engagement. Carrot users earn their choice of Aeroplan® Miles, SCENE®Points, Petro-Points™, More Rewards® Points, Drop points or RBC Rewards each time they interact with the app. The Carrot platform was created in collaboration with public sector agencies, the three leading Canadian health NGOs and the private sector. With over a million downloads across Canada, Carrot is the most popular and trusted public engagement platform in the country. Carrot was recognized as Canadian App of the Year by MobileSyrup in 2017 and was ranked as a Top 10 Loyalty Program in the country by the Bond Brand Loyalty Report in 2018.

For more information, please visit:
Twitter & Instagram: @carrot_rewards
Facebook: /carrotrewards

About the Startup 50
Ranking Canada's Top New Growth Companies by two-year revenue growth, the Startup 50 profiles the fastest-growing startups in the country. It is a companion list to the Growth 500 ranking of Canada's Fastest-Growing Companies, which has, for 30 years, been Canada's most respected and influential ranking of entrepreneurial achievement. Both the Startup 50 and Growth 500 are published in a special issue of Canadian Business published with Maclean's magazine and at

For more information on the ranking, please visit or

About Canadian Business
Founded in 1928, Canadian Business is the longest-serving and most-trusted business publication in the country. It is the country's premier media brand for executives and senior business leaders. It fuels the success of Canada's business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics.

For more information, please visit:


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