[Funding alert] HR tech startup Advantage Club raises additional $3.3M, closing Pre-Series A at $5M
Gurugram-based HR Tech startupon Monday announced that it has raised nearly $5 million in a Pre-Series A round 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 million from Y Combinator, Broom ventures, Kunal Shah, and others.
With this latest round of funding, the company aims to expand its operations further worldwide and add more tech-led products and features. It also plans to continue investing in artificial intelligence (AI) and machine learning (ML) to improve its product offerings.
Speaking on the announcement, Sourabh Deorah, Co-founder and CEO, 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.”
Smiti Deorah, Co-founder and COO, added, "As we are nearing the endemic, the long term impact we have observed over these testing times is that the value of digitisation has increased significantly. With work from home becoming increasingly normal, cross border collaboration within companies has increased and the requirement of employee engagement has become truly global. We will continue solving this problem by building global products catering to HR teams across the world, driving higher retention and productivity."
Founded in 2014, Advantage Club recently announced that it is looking to take its workforce count to 170 from the current 70. The hiring will be done across various profiles like sales, marketing and technology.
Advantage Club claims to be working with more than 370 companies across 60+ countries, including Concentrix, Teleperformance, Hexaware, EY, Target and more. It is currently focused on India, Southeast Asia, and the Middle East and North African regions, chasing a $13 billion revenue opportunity.
Edited by Saheli Sen Gupta