AdvantageClub.ai, an AI-driven employee engagement platform, has secured $4 million in its latest funding round, led by Axilor Ventures. This brings the company’s total funding to $11 million. Along with Axilor Ventures, the round also saw participation from AFG Ventures, Prasanna Sarkar, Bytez Ventures, and several existing investors.
The fresh capital will be used to enhance AdvantageClub.ai’s artificial intelligence capabilities, introduce new products for employee engagement, and expand geographically. Additionally, the company plans to develop wellness programs focused on OPD plans, fitness initiatives, health checkups, and promoting healthy social behaviors.
Powering Employee Engagement with AI
Founded in 2016 by Sourabh Deorah and Smiti Bhatt Deorah, AdvantageClub has built a comprehensive platform to improve employee engagement, wellness, and rewards. The platform offers a range of solutions, including rewards and recognition systems, wellness services like OPD plans and health checkups, wellness challenges, sales incentive automation, and flexible benefits, all within a single platform.
The company’s unique approach lies in its use of AI to create personalized employee experiences. Recently, AdvantageClub launched its AI-powered bot, Adva, to enhance rewards and recognition. This is part of a larger strategy to integrate AI-driven use cases within its platform to further improve engagement. “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,” said Sourabh Deorah, CEO and co-founder of AdvantageClub.
Growth and Global Reach
Based in Gurugram, India, AdvantageClub has expanded its footprint globally, serving over 5 million users across more than 100 countries. The platform works with over 1,000 clients, offering them access to more than 10,000 brand options for rewards and recognition. Notable clients include leading companies like Concentrix, BCG, Tech Mahindra, HCL, L&T, Hexaware, Biocon, Tata Steel, and Teleperformance, among others.
The company’s rapid growth is reflected in its financial performance. In FY23, AdvantageClub’s revenue from operations soared to Rs 323 crore, up from Rs 167 crore in FY22, marking a significant 93.4% increase. Despite the growth in revenue, the company managed to keep its losses under control, showing strong financial discipline.
Competing in a Growing Market
AdvantageClub operates in a competitive landscape with several other players offering employee engagement solutions. Competitors like Vantage Circle, Bonusly, Awardco, Workhuman, Reward Gateway, and Achievers also cater to the growing demand for tools that improve employee retention and satisfaction. However, AdvantageClub’s focus on AI and comprehensive wellness offerings helps set it apart in the crowded space.
With this new funding, AdvantageClub is positioning itself to continue expanding its offerings, both in terms of technology and geographic presence. As AI plays an increasingly pivotal role in transforming employee engagement, AdvantageClub’s innovative use of AI could help it maintain its competitive edge in the market.
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