The company's total funding has reached $11 million after its latest funding round led by Axilor Ventures. AFG Ventures, Prasanna Sarkar, Bytez Ventures, and some of the existing investors participated in the round.

The proceeds will be used to build the companies artificial intelligence capabilities, including adding new products in the employee engagement and experience space, geographic expansion, and building wellness programs.

AdvantageClub, founded in 2016 by Sourabh Deorah and Smiti Bhatt Deorah, is an AI-powered employee engagement, rewards, and wellness platform with offerings like rewards and recognition. Digitizing company’s R&R policies allows them to drive better employee retention and happiness, facilitating employee engagement.

With the launch of our AI bot, Adva, we have pioneered state-of-art solutions in the rewards space. We will enhance engagement further by building applied artificial intelligence use cases within our platform, which will give organizations new ways to engage with their employees.

The Gurugram-based company claims to have over 5 million users, a presence in over 100 countries, serve over 1,000 clients, and offer over 10,000 brand options. The platform boasts an impressive client portfolio with clients including Concentrix, BCG, Tech Mahindra, HCL, L&T, Hexaware, Biocon, Tata Steel, Teleperformance, Air India, Turner Construction, and many more.

The revenue from operations of AdvantageClub increased to Rs. 323 crores in FY23 from Rs. 167 crore in FY22 and maintained its growth streak in FY23, with the firm's operating revenue increasing by 93.4% The firm was able to manage its losses in the fiscal year ending March 2023, as well.

It faces stiff competition from other players in this space, including Vantage Circle, Bonusly, Awardco, Workhuman, Reward Gateway, and Achievers.