Berlin-based talent development platform CoachHub has recently raised $200 million in a Series C funding round led by Sofina and SoftBank Vision Fund 2, to further scale its product innovation and operations and accelerate its global expansion.
Existing investors Molten Ventures, Speedinvest, HV Capital, Signals Venture Capital, and Silicon Valley Bank/SVB Capital also participated in the round, according to a news release.
Founded in 2018 by serial entrepreneur brothers Yannis and Matti Niebelschütz, CoachHub enables organisations to create a personalised, measurable, and scalable coaching programme for the entire workforce, regardless of department and seniority level. Through web- and mobile-based applications, the 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.
CoachHub 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.
Commenting on the recent development, Matti Niebelschuetz, Co-founder of CoachHub, said,
"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."
The company said the latest round of funding will fuel further expansion, with particular emphasis on the United States. It plans to increase its headcount from 850 worldwide employees to more than 1,000 by the end of the year. CoachHub already serves more than 500 customers, with leading household names like Coca-Cola, Danone, Toyota, LVMH, L’Oréal, Credit Suisse, and Twitter as clients.
Harold Boël, CEO, Sofina, said,
"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."
Yanni Pipilis, Managing Partner at SoftBank Investment Advisers, added,
"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 Yannis and the CoachHub team to support their mission of democratising coaching."
CoachHub has last raised $80 million in September last year from Draper Esprit, RTP Global, HV Capital, Signals Venture Capital, Partech, and Speedinvest. The latest funding round comes on the heels of the firm's expansion into the Asian market as well as the acquisition of leading French coaching platform MoovOne and leading Austrian provider Klaiton Coaching, strengthening its global category leadership. The latest Series C brings the three-year-old company’s total funding to $330 million.