One of its kind startup Advantage Club, an employee perks and rewards space, has bagged $1 million (approx ₹7 crore) in pre-Series A round led by growX Ventures.
The round also saw participation from Axilor Ventures, Sprout Venture Partners, and clutch of individual Mumbai angel investors.
“With our employee-first product strategy and through personalisation, data mining, and smart analytics, we give customers a one-of-a-kind experience. We have learnt that perks and rewards cannot be one-size-fits-all across corporates, as employees from different companies have different needs, although employees within the same company tend to look for/behave in a similar manner. We will be deploying this growth capital to build deeper insights, and to also become a more holistic benefit platform for employees catering to their wellness, financial and experiential needs,” Sourabh Deorah, co-founder and CEO at Advantage Club, said.
Advantage Club, based out of Gurugram, was launched by Sourabh Deorah and Smiti Bhatt Deorah in 2016. It is an HR tech platform that helps corporates improve employee engagement and retention by providing perks, rewards and recognition.
Manu Rikhye, Partner at growX Ventures said, “Organisations of all sizes and scale face the challenge of improving employee engagement and retention. Simultaneously, brands are looking for ways of engaging directly with their consumers and understanding their behaviour and preferences. Advantage Club is well positioned to address both these needs, allowing brands to create products and offers that best suit their target audience, while employees get unparalleled perks.”
The platform helps organisations to elevate employee engagement, enabling brands to identify, target, and run data-driven campaigns.
Startups such as Peoplecart, Vantage Circle, Hifives, Achievers and many more, follow similar objective as Advantage Club.