Digital coaching platform CoachHub has raised a €10 million funding round, from existing investors HV Holtzbrinck Ventures, Partech and Speedinvest and new investor RTP Global.
After raising €6M three months ago, the latest round brings total funds raised this year to €16M, recognising CoachHub’s position as the leading digital coaching provider in Europe.
The company will use the funding to accelerate the platform’s growth and grow its global pool of coaches in the UK, alongside all other core European markets, such as France, Germany, Southern Europe, Benelux and the Nordics.
The company will also use the funds to further develop its Coaching Lab, a think tank that drives behavioural research and development in the coaching space.
Founded in Berlin by serial entrepreneur brothers Yannis and Matti Niebelschuetz, CoachHub democratises coaching by enabling access to employees at all career levels for coaching services traditionally only available to top executives.
Since it launched in 2018, the company already boasts 75 employees, and is on track to grow to 200 people by mid-2020, including a strong sales team of 120 people. This makes it by far the fastest growing European company in this space. The planned growth will include 20 UK hires in sales, marketing and operations.
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CoachHub founder and MD Yannis Niebelschuetz, said: “Our customers are seeing measurable results in terms of increased rates of employee retention and happiness. Regular, tailored coaching sessions have been shown to have a positive impact on business and employee performance.
“We are fundamentally disrupting the learning and development landscape and democratising access to business coaching.”
David Kuczek, General Partner of HV Holtzbrinck Ventures, added: “Digital coaching has become a billion dollar market that’s increasing year on year, and we see CoachHub as the clear category leader in Europe.
“We’re really impressed by the team’s execution in building this platform and the rapid customer traction it’s gained since launching last year.”
Andrea Göbbels, Head of Education and Training at Bosch, also said: “Digital coaching provides the perfect solution for the training demands of a fast-based business like ours. The flexibility of CoachHub’s platform is one of the reasons why our employees love it – they can communicate with their coach anywhere and at any time.”