AdvantageClub.ai bags $4M in funding led by Axilor Ventures
The San Francisco-headquartered company will use the funds for geographic and product expansion in the US and Asia.
AdvantageClub.ai on Monday said it raised $4 million in a funding round led by Axilor Ventures, with AFG ventures, Prasanna Sarkar (Co-founder and ex-CTO of Rippling), Bytez Ventures and some existing ventures participating in the round.
With the latest round, the company has raised a total of $11 million in funding so far.
The company, which specialises in employee engagement solutions, plans to utilise the raised capital to accelerate its expansion into the US and Asia, it said in a statement.
Additionally, AdvantageClub.ai will also double down on building wellness programmes, including OPD plans, fitness plans, health check-ups, and social behaviour-led healthy habit formation, and work on strengthening its position in the rewards and recognition space, it said.
“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 organisations to engage with their employees,” said Sourabh Deorah, Co-founder and CEO of AdvantageClub.ai.
With companies starting to provide wellness options as part of their benefits for the employees, the company—in the last two years—has seen wellness take a centre stage in its product suite with Advantage Wellness, the CEO noted.
Founded in 2016 by Sourabh Deorah and Smiti Bhatt Deorah, the San Francisco-headquartered company caters to clients, including Tech Mahindra, HCL, Concentrix, Hexaware, Biocon, Tata Steel, and Air India.
“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,” said Ganapathy Venugopal, Founder and CEO of Axilor Ventures.
Edited by Suman Singh