CoachHub, a German digital coaching platform, announced on Tuesday that it has secured $200M (approximately €191M) in a Series C round of funding led by Sofina and SoftBank Vision Fund 2.
Molten Ventures, Speedinvest, HV Capital, Signals Venture Capital, and Silicon Valley Bank/SVB Capital also participated in the round.
The announcement comes eight months after the company raised $80M (approx €76.4M), bringing the total fund raised to $330M (approx €315M).
The Berlin-based coaching platform says it will use the funds to accelerate expansion to the US and increase its headcount from 850 employees to more than 1,000 by 2022.
“This investment round comes at a time when the corporate learning industry is undergoing rapid transformation, and the digital coaching segment is expected to grow by up to 100 times, resulting in most major organisations looking to implement digital coaching at scale by the end of the decade,” says the company.
CoachHub: What you need to know
Matti Niebelschuetz and Yannis Niebelsch founded CoachHub in 2018 to help organisations create personalised, measurable, and scalable coaching programmes for the entire workforce, regardless of department and seniority level.
“As workplaces continue adapting to the new normal of hybrid and remote models, leaders need individual support and solutions to boost employee performance, engagement, and motivation, while keeping wellbeing at the forefront,” says Matti Niebelschuetz, co-founder of CoachHub. “Digital coaching offers these benefits and more, resulting in spiking global demand for CoachHub’s services.”
Available as both web- and mobile-based applications, the platform matches learners with more than 3,500 certified business coaches that speak more than 60 languages and reside in 90 countries across all time zones.
CoachHub couples human intelligence with Artificial Intelligence (AI) to match employees with their ideal coaches and personalise the content library.
CoachHub claims it enables organisations to reap benefits, including increased employee engagement, higher levels of productivity, improved job performance, and increased retention.
The company’s programmes are based on advanced R&D from its Coaching Lab, led by Prof. Jonathan Passmore and Scientific Board.
Currently, the company serves leading global economies and works with large multinational enterprises like Coca-Cola, Danone, Toyota, LVMH, L’Oréal, Credit Suisse, and Twitter.
Sofina is a family-controlled investment company listed on Euronext Brussels, managing its own assets of circa €11B.
“We believe 1:1 coaching will continue to be one of the most effective ways of enhancing the socio-emotional and leadership skills needed to thrive in an increasingly complex and rapidly evolving workplace. As a company that seeks to democratise access to quality coaching, CoachHub’s mission resonates with our Responsible Investment strategy. We look forward to partnering with them to further their global ambitions,” says Harold Boël, CEO of Sofina.
Yanni Pipilis, Managing Partner at SoftBank Investment Advisers, says, “The Learning and Development sector is witnessing strong secular trends toward the digitisation and personalisation of services. CoachHub’s digital platform aims to provide a tailored coaching experience to employees at all levels to help advance their careers. We are pleased to partner with the CoachHub team to support their mission of democratising coaching.”