Gurgaon-based Advantage Club, a mobile platform for corporate employee benefits, has raised about $400K (INR 2.7 Cr) funding from a round led by Purvi Ventures, Mumbai Angels and other angel investors.
Avtar Singh Monga (IDFC Bank), Amitabh Nagpal (Investor in Shopclues), Varun and Himanshu Agarwal (Aspiring Minds founders), Gaurav Bhatnagar, Ankush Nijhawan and Manish Dhingra (TBO Holidays), Gopi Prashanth (Microsoft), Rajnish Sinha (Genpact) and Vibhu Garg (Unicommerce) also participated in this round.
Advantage Club, previously known as Work Advantage, was founded in 2014 by Sourabh Deorah and Smiti Bhatt Deorah. It is a platform for corporates who want to provide exclusive and personalised deals to their employees as part of their benefits program.
The newly raised capital will be used to enhance the product with analytical features and for pan-India expansion.
The startup creates mutually rewarding relationships between employers and businesses by managing corporate discounts. Through Advantage Club organisations can incentivise their employees beyond salary by extending corporate employee-benefits to travel, entertainment, dining, education, gyms, shopping, etc.
Talking about the platform, co-founder Sourabh, said, “The perception of an employee has changed in the past decade. Every organisation is looking for innovative ways to engage with its members, and offer something beyond just salary. We aim to delight corporates and their employees via white-label apps, with exclusive privileges from premium brands, and features like wish lists, a 365-day customer helpline and usage dashboard.”
Currently the platform has over 250 brands in 3,000 locations across 12 different categories including Max Healthcare, Domino’s, Yatra, Grofers, UrbanClap, Mother’s Pride, Kingdom of Dreams, Flipkart and Reliance Footprint. The program is already live in NCR, Bangalore, Mumbai, and plans to expand across India, with a stronger presence in Pune, Hyderabad and Kolkata.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.