[Funding alert] Global Human Resources Platform Advantage Club Raises $ 1.7 Million From Y Combinator, Broom Ventures, Kunal Shah, and Others
GurugramRHtech startup Advantage Club announced Thursday that he had lifted $ 1.7 million in a new round led by Y Combinator, Broom Ventures, Liquid.vc, and Kunal Shah.
Angel investors from the United States, the Middle East and Southeast Asia also participated in the roundtable.
The startup will use the influx of fresh funds to bolster its already flourishing international business and open up new avenues for growth. At present, it is present in more than 60 countries, including India, Philippines, Malaysia, Vietnam, Indonesia, Egypt, United States, United Arab Emirates and others.
Club Advantage’s vision is to evolve as a single global platform for employee engagement and financial well-being.
Speaking on the ad, Sourabh Deorah, CEO and co-founder of Advantage Club, noted,
“Advantage Club has become the leading employee engagement platform in the country and we are developing 20% growth in MoM. user behavior. “
“With the new fundraiser, we are preparing to expand our platform to a new and unexplored customer base internationally, particularly in the SEA, MENA and North America markets and to add wellness products. financial as Early Wage Access to our existing comprehensive employee engagement platform, ”he added. .
Launched in 2016, Advantage Club is a global platform for employee engagement and financial well-being, with perks like perks, rewards, and early access to salaries all on one platform. The company is active with more than 370 companies in more than 60 countries, including Concentrix, Teleperformance, Hexaware, EY, Target and more. It is currently focusing on India, SEA and MENA regions, seeking a $ 13 billion revenue opportunity. Prior to starting the business, the entrepreneurs received their masters from UCLA and worked at Amazon (US) and Microsoft (US).
“As we go global, we are delighted to have investors with global reach. They not only bring their network, but more importantly, they bring their learnings to different markets, ”said Smiti Bhatt Deorah, COO and co-founder of Advantage Club.