Fraud prevention software company RaptorX and employee engagement solutions provider AdvantageClub.ai have raised early-stage funding, the companies said Monday.
AdvantageClub.ai, a platform specializing in employee engagement solutions, has raised $4 million in a funding round led by Axilor Ventures. With this infusion, the company’s total funding has reached $11 million.
The round also saw participation from AFG Ventures, Rippling co-founder Prasanna Sarkar, Bytez Ventures, and several existing investors.
The new funds will be used to enhance the company’s AI capabilities, including the development of new products in the employee engagement and experience space. AdvantageClub.ai also plans to expand its presence in the US and Asia.
Additionally, the company aims to strengthen its wellness offerings, including OPD plans, fitness programs, health checkups, and social behavior-driven healthy habit formation.
AdvantageClub.ai is an AI-powered platform that provides a comprehensive suite of employee engagement, rewards, and wellness solutions. Its offerings include rewards and recognition programs, wellness initiatives such as OPD plans and annual health checkups, wellness challenges, sales incentive automation, flexible benefits, surveys, significant moments tracking, and community-building features, it said in a statement.
Fraud prevention software company RaptorX has raised Rs 4 crore in a pre-seed funding round from Peak XV Spark, EagleWings Ventures, and Point One Capital, among other investors.
The round also included participation from Lenskart founder and CEO Peyush Bansal, BoAt co-founder and CMO Aman Gupta, and angel investors from Google, the company said in a statement.
Founded by Pratyusha Vemuri, RaptorX plans to utilize the fresh funds to strengthen its AI and machine learning capabilities, targeting applications in banking and e-commerce. Additionally, the company aims to expand its team, enhance integrations with payment gateways, e-commerce platforms, and banking systems, and invest in customer onboarding, training, and support to boost user adoption.
RaptorX operates at the intersection of fintech, regtech, e-commerce, and artificial intelligence, focusing on fraud prevention, anti-money laundering (AML), and customer risk intelligence.
Over the next three years, RaptorX plans to expand its presence in the e-commerce and banking sectors across India and Southeast Asia. It also aims to roll out new AI modules for return fraud detection, mule account identification, and real-time payment screening, it said in a statement.