HR tech start-up Advantage Club raises $5 million from Jetty, YCombinator

The AI-driven employee engagement and benefits platform Advantage Club, 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 abroad and add more products and features to compete in the $13 billion global HR tech market. The company 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 startup seeks to redefine employee benefits and engagement beyond just provident funds by building deep engagement products that can be further personalised according to each user’s behaviour. At present, the company has operations in more than 60 countries worldwide, including India, Philippines, Malaysia, Vietnam, Indonesia, Egypt, USA, UAE, and more and claims to be growing at a rate of 20 per cent month-on-month.

Smiti Deorah, co-founder and COO, said, ” With work from home becoming increasingly normal, cross border collaboration within companies has increased and 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.”

The startup had recently announced to take the workforce count to 170 from 70 members. The hiring will be done across various profiles like sales, marketing and technology.

The company has over 370 customers currently across more than 60 countries, including Concentrix, Teleperformance, Hexaware, EY, Target and more. Before starting the company, the founders Sourabh and Smiti Deorah, who are married to each other, did their Masters from UCLA and worked at Amazon and Microsoft in the US.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor