AdvantageClub.ai is an employee engagement platform that has secured 4 million USD from Axilor Ventures in its fresh funding round. The funding round saw the participation of several existing and new investors including AFG Ventures, Bytez Ventures, and Prasanna Sarkar. The startup plans to use these proceeds to scale its operations, enhance AI capabilities, and introduce new products in employee engagements while developing its market presence.
The company intends to use some of this investment to develop wellness programs such as fitness plans, OPD plans, health checkups, and other services. The startup offers end-to-end solutions for employee engagement allowing to drive employee happiness and retention. The company also provides group health benefits, health check-ups, and other benefits. The startup helps managers to reward employees with detailed reporting. This investment shows investors’ trust in Advantage Club’s market potential and business model.
The Gurugram-based firm has raised around $6.71 million across multiple funding rounds since its inception, including 5 million USD secured from Earlsfield Capital, Jetty Ventures, and others in its series A funding round. The startup has served over 1,000 clients with over 10,000 brand options. The company serves across 100 countries and has around 5 million users. The company had a post-money allotment valuation of around 5.7 million USD in July 2019. The startup intends to use some of this fund to strengthen its platform, make it more secure, and expand its categories.
Advantage Club aims to advance its technology and transform employee engagement platforms using its advanced technologies. The startup offers a platform that enables companies to automate rewards and policies. The employee engagement platform has around 32 institutional investors including Y Combinator, GrowX Ventures, and Purvi Capital. The company faces competition from other employee Engagement platforms including Nudge, Reward Gateway, Vantage Circle, Workhuman, and Awardco.
The company posted a 93.4 percent increase in its revenue from operations in FY23. The startup reported that its operational revenue crossed Rs 323 crore for FY23. The company is yet to post the results for FY24. The firm was able to control its losses for the financial year. The company has clients including Air India, Tata Steel, HCL Technologies, Tech Mahindra, and more. Before this funding round, GrowX Ventures was the firm’s largest institutional investor.
Conclusion :
Advantage Club is a Gurugram-based startup offering an employee engagement platform. The startup got fresh capital of 4 million USD from Axilor Ventures and other investors. The funding round saw the participation of existing and new investors including Prasanna Sarkar, AFG Ventures, and Bytez Ventures. The company plans to use this amount to improve its platform, enhance its AI capabilities, and advance its technology.
The company uses analytics and artificial intelligence to provide end-to-end solutions to facilitate employee engagement. Before this round, the existing investor GrowX Ventures holds the largest external stake in the firm. The company provides a platform with features like onboarding kits, gifts, vouchers, and more. AdvantageClub.ai competes with other startups in the same market segment such as Workhuman and Reward Gateway.
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