In a rapidly changing global economy, it is crucial for any company to equip its employees with the skills they need to handle change and dynamic situations.
Providing the right skills will prepare employees for the future. The team at CoachHub is capitalising on exactly this opportunity by helping companies make coaching accessible to employees at all career levels.
Raised £22 million funding
Based out of Berlin, the digital coaching platform CoachHub has raised $30 million (approx £22 million), led by new investor Draper Esprit, alongside existing investors HV Capital, Partech, Speedinvest, signals Venture Capital, and RTP Global. This brings the total funding amount to $50 million (approx £37 million).
The funding will be used to accelerate its growth in the digital coaching market, with plans to add 1000 coaches to its network and make 120 new hires across Europe, Asia, and the US.
Global talent platform
Founded by Matti Niebelschuetz, and Yannis Niebelschuetz in 2018, CoachHub is a global talent development platform that enables organisations to create a personalised, measurable, and scalable coaching program for the entire workforce, regardless of department and seniority level.
The German company is also planning to develop “Coaching Lab”, a think tank that uses machine learning and business intelligence to drive behaviour research and development in the field of coaching.
The members of Coaching Lab includes some of the leading European professors, psychologists, coaches, researchers, and learning experts, and partners include leading institutions, such as the British Psychological Society, Henley Business School, and Harvard Business Publishing.
How does Coaching Lab work?
Companies invite employees to the digital coaching platform, where an AI-based matching system recommends three business coaches that fit the employee’s individual requirements and personal requests. Both coach and coachee communicate directly via the CoachHub app on smartphones or desktops.
The coaching usually takes place via biweekly video calls, and e-learning tasks are available to provide further personal development. Employees have 24/7 access to their coach via an integrated chat function.
At present, the company works with various clients including Generali, Bosch Rexroth, SoundCloud, HelloFresh, BNP Paribas, and SumUp. The company has also offered CoachHub4Good, an initiative to support employees from aid organisations with access to the network of top tier coaches on the CoachHub digital platform, free of charge.
Yannis Niebelschütz, co-founder and chief marketing and sales director, CoachHub: “The pandemic has triggered a huge surge in digital solutions for training and personal development. Company leaders and HR professionals are desperately looking for support as they move more of their operations online. With this new funding, we can continue to meet the enormous demand whilst significantly expanding our network.”
Matti Niebelschütz, co-founder and chief delivery officer, CoachHub: “We are experiencing a step-change in the world of work. It has been shown that consistent, personalised coaching has a noticeable, positive impact on employee performance. Our customers see measurable results through digital coaching in the form of higher employee retention rates and satisfaction. Our data support this: 80% of employees using CoachHub have reported reduced stress by an average of 18%.
“The dependence of traditional formats for personal coaching sessions, which are inflexible, time-consuming, and unscalable, has made coaching inaccessible to everyone but the highest executives. We are changing the coaching landscape and democratising access to business coaching. Our vision is to make coaching available to people at all career levels worldwide.”
Christoph Hornung, investment director at Draper Esprit: “If 2020 has shown us anything, it’s that the future of work will look very different to what we expect and can change faster than anyone thinks possible. CoachHub’s technology is helping some of the world’s top companies transform today to be ready for tomorrow. We are delighted to be backing CoachHub and we’re excited by their potential scale.”
David Kuczek, general partner at HV Capital: “Digital coaching is a future billion-dollar market. Due to the pandemic, this area has now picked up speed even more rapidly. The demand is huge. We see CoachHub as the clear global industry leader. The team’s performance in building the network and the platform is impressive.”