STARTUP-STORIES

AdvantageClub.ai Secures $4M Funding to Expand Global Presence

AdvantageClub.ai Secures $4M Funding to Expand Global Presence

SUMMARY

  1. AdvantageClub.ai, an AI-driven employee engagement platform, raised $4 million in a funding round led by Axilor Ventures, with contributions from AFG Ventures, Bytez Ventures, and Alteria Capital. The funds will support its expansion in the US and Philippines and further geographic growth.
  2. Founded in 2016, AdvantageClub.ai serves clients like Times Group and EY, offering rewards and recognition solutions. The startup aims to achieve $8 million in revenue and INR 1,000 crore ($118 million) in gross transaction value this financial year, reflecting the rising demand for employee engagement platforms.


AdvantageClub.ai, an AI-driven platform specializing in employee engagement and benefits, has successfully raised $4 million in a funding round led by Axilor Ventures, with participation from AFG Ventures, Bytez Ventures, Alteria Capital, and several angel investors.


The fresh capital will be used to strengthen the company’s presence in the US and Philippines and support its geographic expansion into new markets. Founded in 2016 by Sourabh and Smiti Deorah, AdvantageClub.ai offers enterprises an advanced platform featuring rewards, recognition, and engagement solutions. The startup serves notable clients such as Times Group, EY, and Reliance Nippon Life Insurance.


This funding marks a shift in the company’s approach, as CEO Sourabh Deorah emphasized moving away from traditional series rounds to focus on strategic growth. According to regulatory filings, the India entity raised $2 million, with $1.6 million coming via compulsorily convertible debentures (CCD), while the remaining $2 million was secured by its US-based entity. AdvantageClub.ai is on track to achieve $8 million in revenue this financial year, with a projected gross transaction value (GTV) of approximately INR 1,000 crore ($118 million).


The investment highlights the growing demand for employee engagement platforms as companies increasingly prioritize talent retention. AdvantageClub.ai’s success aligns with broader industry trends, such as Zaggle’s IPO and Pine Labs’ acquisition of Saluto Wellness, indicating strong market growth. With its innovative solutions and plans for expansion, AdvantageClub.ai is well-positioned to lead the transformation of workplace engagement.

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December 2, 2024

Kalpana Maurya