News: HR Tech startup Advantage Club raises $5 Mn

HR Technology

HR Tech startup Advantage Club raises $5 Mn

The startup intends to use these funds to boost its presence further in the international market.
HR Tech startup Advantage Club raises $5 Mn

HR Tech startup Advantage Club has raised nearly $5 Million from Y-Combinator, Jetty Ventures, Earlsfield Capital, SMC Advisors, Kunal Shah and others.

The AI-driven employee engagement and benefits platform raised $3.3 Million from Jetty Ventures, Earlsfield Capital, SMC Advisors and other investors. This is an add-on to the recent round of $1.7 Mn from Y Combinator, Broom ventures, Kunal Shah and others.

With this latest round of funding, Advantage Club aims to expand its operations further worldwide and add more tech-led products and features to emerge as a global leader in an untapped $13 Bn market that has ample growth opportunities yet to be realized. The company also plans to continue investing in AI and machine learning to improve its product offerings.

Sourabh Deorah, CEO and Co-Founder, Advantage Club, said, “The latest influx of funds will help us bolster our presence internationally and help us hire the right talent to manage our operations globally. We aim to evolve as a single global platform for employee engagement and financial wellness in the SEA and MENA market.” 

The Delaware based company was founded by Sourabh and Smiti Deorah to redefine employee benefits and engagement beyond just provident funds by building deep engagement products that can be further personalized according to each user’s behaviour. Today, the company has operations in more than 60 countries worldwide, including India, Philippines, Malaysia, Vietnam, Indonesia, Egypt, USA, UAE with clients such as Concentrix, Teleperformance, Hexaware, EY, Target and more and claims to be growing at a rate of 20% month on month.

The startup also recently announced to take the workforce count to 170 from 70 members. The hiring will be done across various profiles like sales, marketing and technology. 

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Topics: HR Technology, #FundingAndInvestment

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