CoachHub startup raises $200m Series C funding to democratize coaching worldwide
CoachHub, the global digital coaching platform, closed a $200 million Series C funding round, led by Sofina and SoftBank Vision Fund 2. The round will be used to further scale CoachHub's product innovation and operations while accelerating the company's global expansion.
Following an $80 million round only eight months ago, this Series C brings the three-year-old company's total funding to $330 million. In addition to Sofina and SoftBank Vision Fund 2, existing investors including Molten Ventures, Speedinvest, HV Capital, Signals Venture Capital and Silicon Valley Bank/SVB Capital also participated in the round.
The significant growth investment round pays tribute to CoachHub's outstanding traction and global market position. 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 organizations looking to implement digital coaching at scale by the end of the decade.
Yanni Pipilis, Managing Partner, SoftBank Investment Advisers: "The Learning and Development sector is witnessing strong secular trends toward the digitization and personalization 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 democratizing coaching."
A vast majority (77%) of learning and development professionals feel there is now a greater need to train and develop employees than before the COVID-19 pandemic, according to CoachHub's recent Global HR Survey. Coaching plays an important role in people development strategies and is now more accessible than ever with CoachHub's convenient, location-independent digital platform.
Matti Niebelschuetz, Co-founder, CoachHub: "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. Digital coaching offers these benefits and more, resulting in spiking global demand for CoachHub's services."
Provided by CoachHub to employees at all career levels - not just senior-level executives - coaching enhances leadership skills, improves job performance and ultimately builds a more resilient, more productive workforce. Through web- and mobile-based applications, the revolutionary end-to-end digital coaching platform matches learners to a pool of more than 3,500 certified business coaches that speak more than 60 languages and reside in 90 countries, across all time zones. The app couples human intelligence with artificial intelligence technology to pair employees with their ideal coaches and curate a library of content that enhances their learning journey.
Since its inception three years ago, CoachHub has grown rapidly to become the global category leader. This latest round of funding will fuel further expansion, with particular emphasis on the United States. The company plans to increase its headcount from 850 worldwide employees to more than 1,000 by the end of the year. The company serves most leading global economies and works with large multinational enterprises like Coca-Cola, Danone, Toyota, LVMH, L'Oréal, Credit Suisse and Twitter.
CoachHub is supported by more than 150 product engineers and a world-class, in-house Coaching Lab that employs a team of 30 leading behavioral scientists and is headed by Prof. Dr. Jonathan Passmore, the renowned professional psychologist and coaching researcher. The CoachHub Science Council is an international team of behavioral science experts and educators who help drive R&D for the company by converting scientific evidence into a science-based digital coaching offer. The company also maintains strategic partnerships with renowned organizations like EMCC Global.
Harold Boël, CEO, Sofina: "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 democratize 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."
This funding round comes on the heels of CoachHub's expansion into the Asian market as well as the acquisition of leading French coaching platform MoovOne and leading Austrian provider Klaiton Coaching, strengthening CoachHub's global category leadership.