AdvantageClub.ai, a platform specializing in employee engagement solutions, has raised $4 million in its latest funding round led by Axilor Ventures bringing the company’s total funding to $11 million.
AFG Ventures, Prasanna Sarkar (Cofounder and ex-CTO of Rippling), Bytez Ventures and some of the existing ventures participated in the round.
The funds raised will be used to accelerate its expansion into the US and Asia, two critical markets where demand for innovative employee-friendly engagement solutions continues to rise.
The company will also focus on expanding its product suite in employee recognition, rewards, and engagement, with plans to introduce new tools and features to enhance employee experience.
In addition, the company will double down on building wellness programs including OPD plans, Fitness plans, Health Checkup and social behavior led healthy habit formation, and will work on strengthening its position in Rewards and Recognition space.
Sourabh Deorah, CEO & Co-founder of AdvantageClub.ai, said, “As we have grown significantly over the last couple of years, we have established ourselves as a market leader in the Rewards and Recognition space in India and Asia, and we have gotten success in US and other parts of the world. Since companies have started providing wellness options as part of their benefits for the employees, in the last 2 years we have seen wellness also take a center stage in our product suite with Advantage Wellness. This funding will help us in doubling down on the US, expand further in wellness and build the product further. This investment which has largely come from Axilor Ventures and other existing investors also further strengthens the belief. While we have had access to external capital, we chose to raise mostly from our existing investors because of our shared vision, and to continue being frugal on the amount of capital we raise. We plan to continue creating impactful solutions for Making Workplaces Happier and Healthier. 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.”
Smiti Bhatt Deorah, COO & Co-founder of AdvantageClub.ai said, “With our employee 1st approach we have become the de-facto choice for organizations from Asia for their employee engagement needs, winning 65-70% new recognition deals happening in the market. We are also anti-breakage and pro-choice with an objective to drive 90%+ utilization and redemption, which aligns well with employees and eventually with every organization’s goals. The same thesis has enabled us to win in the Wellness space and other regions like the US. We plan to continue bringing one of a kind user experience for driving employee engagement and helping our HR friends in solving for their core goals of retention, productivity and driving culture within their companies. We are one of the few truly global companies with users in 104 countries.”
”Companies are in search of good options to improve employee engagement and strengthen their employer brand. AdvantageClub.ai’s personalised, scalable and global platform offers a best-in-class solution to employers who put their employees first. We are excited to continue our partnership with Sourabh and Smiti as they look at their next phase of exciting growth,” said Ganapathy Venugopal, founder and CEO of Axilor Ventures.
Founded in 2016 by Sourabh Deorah and Smiti Bhatt Deorah, AdvantageClub.ai is an AI-powered employee engagement and rewards platform with offerings like rewards & recognition, flexible benefits, surveys, moments that matter, and communities on a single platform. AdvantageClub.ai has over 5 million users, a presence in over 100+ countries, 1000+ clients, and 10,000+ redemption options. AdvantageClub.ai leverages AI, data mining, and analytics to revolutionize employee engagement.
Headquartered in San Francisco, AdvantageClub.ai has an impressive client portfolio featuring Concentrix, Clayens, Las Vegas Convention Centre, Teleperformance, Target, H&M, Starr Electric, L&T, HCL, Turner, IM Solutions and many more.
In the past year, AdvantageClub.ai has achieved significant milestones, including doubling its revenue and securing several marquee clients.
