AdvantageClub.ai has Secured $4 Million in Latest Fun

AdvantageClub.ai, an employee engagement platform, has raised $4 mn in a funding round led by Axilor Ventures, increasing its total funding to $11 million. Other participants included AFG Ventures, Prasanna Sarkar, Bytez Ventures, and existing investors.

Funding Utilisation

The funds will be used to enhance AI capabilities, develop new employee engagement and wellness products, expand globally, and introduce wellness programs like OPD plans, fitness plans, health checkups, and habit-building initiatives.

Founded in 2016 by Sourabh Deorah and Smiti Bhatt Deorah, AdvantageClub offers an AI-powered platform for employee rewards, wellness, and engagement. Its features include rewards and recognition, OPD plans, health checkups, wellness challenges, surveys, flexible benefits, and community-building tools.

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It offers complete solutions to boost employee engagement by digitizing companies’ rewards and recognition policies, helping improve employee retention and satisfaction.

Sourabh Deorah, CEO & Co-founder of AdvantageClub said, “We will continue building state-of-the-art solutions in AI and have pioneered the same in the rewards space recently with the launch of our AI bot, Adva. By building applied AI use cases within our platform, we will enhance engagement further and give new ways for organizations to engage with their employees,”.

The Gurugram-based company serves over 5 million users across 100+ countries, working with more than 1,000 clients and offering 10,000+ brand options. Its clients include Concentrix, BCG, Tech Mahindra, HCL, L&T, Biocon, Tata Steel, Air India, and more.

AdvantageClub’s revenue rose to ₹323 crore in FY23, up from ₹167 crore in FY22, showing a 93.4% growth. The company also successfully reduced its losses during the fiscal year ending March 2023.

AdvantageClub competes with platforms like Vantage Circle, Bonusly, Awardco, Workhuman, Reward Gateway, and Achievers.

About AdvantageClub

Founded by UCLA graduates Sourabh Deorah and Smiti Bhatt Deorah, AdvantageClub aims to transform employee benefits using data and analytics. It goes beyond traditional offerings like provident funds and corporate discounts to create innovative solutions for modern workplaces.

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