Advantage Club, India’s largest mobile first platform for corporate-employee benefits has raised 2.7cr from Purvi Ventures, Mumbai Angels and other Individual Angel Investors.
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. The aim is to create an analytical tech-platform which redefines employee benefits beyond provident funds and corporate discounts beyond dining.
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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).
Nayan Parikh, Deal Lead & Board Member, Mumbai Angels said, “Advantage Club is a platform for corporates who want to provide exclusive and personalized deals to their employees as part of their benefits program. Corporate employees have large disposable incomes and brands aspire to target them. At the same time corporates need to provide benefits to their employees at low costs to reduce attrition. Brands directly signing with corporates aren’t the difficult part. However, employee engagement is a key challenge, addressed by Advantage Club.”
Commenting on the investment, Ravi Srivastava, Founding Partner of Purvi Ventures said, “Smiti & Sourabh have identified a greenfield opportunity in the privileges space – something that’s often taken for granted in the mature workforce & human capital management circles, but is oddly missing in the Indian ecosystem so far. And we’re very bullish on the team – they not only iterate rapidly, but also have this uncanny ability to close deals from scratch.”
Sourabh, CEO and Co-Founder says, “The perception of an employee has changed in the past decade. Every organization 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-labelled apps with exclusive privileges from premium brands, and features like wish lists, a 365-day customer helpline and usage dashboard.”
Smiti, COO and Co-Founder says, “Every brand wants to reach out to corporate clientele. But in today’s unorganized market, even if they offer a corporate privilege, it is not promoted among the employees creating lose-lose situation for them. We not only help brands market within corporates, but through features like smart personalized notifications and newsletters, we are able to influence the choices of the customer right before he/she is about to make a decision.”
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. They have on boarded 100+ companies including Sony, Zee Media, Concentrix, Intelenet (previously Serco), Tech Mahindra, Religare, Sona Koyo, Bata and many more.
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