HR tech startup Advantage Club raises $5 million

MUMBAI: HR tech startup Advantage Club has raised a total of $5 million from Y-Combinator, Jetty Ventures, Earlsfield Capital, SMC Advisors, Kunal Shah, among others.

The Artificial Intelligence (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 worldwide and add more tech-led products and features to emerge as a global leader in an untapped $13 billion market that has ample growth opportunities yet to be realised. It also plans to continue investing in AI and machine learning to improve its product offerings.

Sourabh Deorah, CEO and co-founder, 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,” he added.

The Delaware-based company was founded by Sourabh and Smiti Deorah to redefine employee benefits and engagement beyond provident funds by building deep engagement products that can be further personalised according to each user’s behaviour. Today, the company has operations in more than 60 countries, including India, Philippines, Malaysia, Vietnam, Indonesia, Egypt, USA, UAE, growing at a rate of 20% month-on-month.

The brand had recently announced to increasing its staff count to170 from 70 as of now. The hiring will be done across various profiles like sales, marketing and technology.

Clients include Concentrix, Teleperformance, Hexaware, EY, Target, among others.