Employee perks and rewards startup, Advantage Club, has managed to gather funds to the tune of a million dollars, in a pre-series A round, led by growX Ventures. The HR tech platform helps organisations to engage their employees better and also retain them by offering perks, rewards and recognition.
Other investors who participated in the round included Axilor Ventures, Sprout Venture Partners and a few other angel funders from Mumbai.
The Gurugram-based startup was established on the fact that perks and rewards cannot be the same for everyone, as the one-size-fits-all model doesn’t work in this space. The platform focusses on providing unique and personal experiences, as employees from different companies have different requirements.
Advantage Club will be using this fund to make its platform capable of delivering more holistic benefits, fulfilling the employees’ wellness as well as financial and experiential needs.
With organisations struggling to up their employee-engagement quotient and trying to find new ways of retaining their employees, Advantage Club has come up with the ability to tackle both these issues at the right time. It will allow brands to create and offer products that are best suited to their target audience, while simultaneously ensuring that employees are able to enjoy unique perks. The platform also lends support to organisations to raise the level of employee engagement and run data-driven campaigns.