Company Name : Advantage Club
Funding Amount : Rs 2.7 crore
Investor(s) Purvi Ventures, Mumbai Angels.
Funding Round : Not Disclosed
Advantage Club a mobile first platform for corporate-employee benefits has raised 2.7cr from Purvi Ventures, Mumbai Angels and other Individual Angel Investors.
US based Purvi Ventures led the round, syndicated by Mumbai Angels and other prominent individual investors including Avtar Singh Monga (IDFC Bank), Amitabh Nagpal (Investor in Shopclues), Varun and Himanshu Agarwal (Aspiring Minds), Gaurav Bhatnagar, Ankush Nijhawan and Manish Dhingra (TBO Holidays), Gopi Prashanth (Sourabh’s ex-manager at Microsoft), Rajnish Sinha (Genpact) and Vibhu Garg (Unicommerce).
By providing curated privileges, the platform increases an employee’s spending/saving power by 10%.
The founder couple, Sourabh and Smiti are both UCLA alumni and worked with Amazon and Microsoft in the States. Their aim is to create an analytical tech-platform which redefines employee benefits beyond provident funds and corporate discounts beyond dining.
Currently, 250+ brands in 3000+ locations across 12 different categories including Max Healthcare, Domino’s, Yatra, Grofers, UrbanClap, Mother’s Pride, Kingdom of Dreams, Flipkart and Reliance Footprint are offering exclusive privileges via Advantage Club.
The company claims that they have on boarded 100+ companies including Sony, Zee Media, Concentrix, Intelenet (previously Serco), Tech Mahindra, Religare, Sona Koyo, Bata and many more.
The funds will be used to enhance the product with analytical features, allowing better individual and corporate level personalization. The program is already live in NCR, Bangalore and Mumbai, and is planned to expand PAN India with stronger presence in Pune, Hyderabad and Kolkata.