(MENAFN- PR Newswire)
DUBAI, UAE, Dec. 2, 2024 /PRNewswire/ -- AdvantageClub, a leader in employee engagement solutions, has raised $4 million in its latest funding round, bringing its total funding to $11 million. The round was led by Axilor Ventures, with participation from AFG Ventures, Prasanna Sarkar (ex-CTO of Rippling), Bytez Ventures, and existing investors.
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Sourabh Deorah, CEO & Co Founder and Smiti Bhatt Deorah, COO & CO founder of AdvantageClub (PRNewsfoto/Advantage Club Technologies Private Limited)
They plan to use the funds to strengthen its presence in the US and Asia, where company has already seen success. The company will also focus on expanding its product suite in employee recognition, rewards, and engagement, with plans to introduce new tools and features to enhance employee experience.
Sourabh Deorah, CEO & Co-founder of AdvantageClub, expressed excitement about the investment from investors, saying,
"This funding will help us double down on the US and Asia, expand our product suite, and continue building AI-driven solutions like Adva to engage employees in new ways." COO & Co-founder Smiti Bhatt Deorah added,
"Our employee-first approach has made us the top choice for organizations, we win 65-70% of new recognition deals in Asia and have expanded successfully into the US."
Ganapathy Venugopal, founder and CEO of Axilor Ventures , the lead investor in this round, has been a long-time supporter of AdvantageClub said,"Companies are in search of good options to improve employee engagement and strengthen their employer brand. AdvantageClub's personalised, scalable and global platform offers a best-in-class solution to employers who put their employees first. We are excited to continue our partnership with Sourabh and Smiti as they look at their next phase of exciting growth."
About ai
AdvantageClub is a global AI powered employee engagement and rewards platform with offerings like rewards & recognition, flexible benefits, surveys, moments that matter, and communities on a single platform. AdvantageClub has over 5 million users, a presence in over 100+ countries, 1000+ clients, and 10,000+ redemption options. Founded in 2016 by UCLA postgraduates Sourabh and Smiti Deorah, AdvantageClub leverages AI, data mining, and analytics to revolutionize employee engagement. Headquartered in San Francisco, AdvantageClub has an impressive client portfolio featuring BCG, Rakbank, Havelock One, Tabreed, SGM, and many more.
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SOURCE AdvantageClub
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