CoachHub, a digital coaching platform that uses AI to match people to business coaches, has secured $80 million (approx £57.8 million) in Series B2 funding, increasing total Series B capital to $110 million (approx £79.5 million).
Various investors like Draper Esprit, RTP Global, HV Capital, Signals Venture Capital, Partech, and Speedinvest, participated in the funding round. To date, the company has raised £94.5 million since 2019. The company will use the fund to expand its platform.
“This latest round of funding will allow us to meet the ever-growing demand for digital solutions for training and personal development, which has been triggered by the pandemic,” said co-founder and Chief Sales Director Yannis Niebelschütz. “It also demonstrates the belief investors have in our platform and the value democratized coaching brings to forward-thinking organisations.
In the first half of 2021, the Berlin-based company has exceeded 2020’s new business generation, tripled its number of employees, and added some of the biggest, global brands to its stable of clients such as Fujitsu, Electrolux, Babbel, ViacomCBS, and KPMG.
Uses AI to match individuals
Founded by Matti Niebelschuetz, and Yannis Niebelschuetz, CoachHub uses AI to match individuals with more than 2,500 certified business and well-being coaches in 70 countries across six continents.
Coaching sessions are available in more than 60 languages. The company has more than 300 employees from 42 nationalities across Europe, North America, UK, and Asia.
Christoph Hornung, Investment Director at Draper Esprit said: “It’s no longer just about the pandemic. What we are increasingly seeing with digital-first, highly enriched platforms such as CoachHub are more dynamic and – crucially – more accessible tools to transform companies through training and education. We are delighted to continue backing CoachHub as it makes huge strides in the US and Asia and builds upon its position as Europe’s leading digital coaching platform.”
Alexander Pavlov, Partner at RTP Global, added: “Since we first invested in CoachHub in late 2019, the company has never ceased to impress us. Its team of industry-leading scientists, researchers, and advisers – along with a worldwide pool of top coaches – are all demonstrating a clear passion to democratise coaching across the world. Matti and Yannis are 100% focused on their vision and are backed by outstanding execution and growing ambition. These efforts made it an easy decision to help the company accelerate further by doubling down on our investment, Mcontributing significantly towards an impressive $80M round.”
“For too long, coaching has been inflexible, unscalable, and inaccessible to anyone but the highest executives,” said Matti Niebelschütz, co-founder and Chief Delivery Officer of CoachHub. “Democratizing coaching for people of all career levels worldwide allows more organizations to tap into the positive impact on employee performance and well-being that comes from personalized coaching. Higher employee engagement rates and mental health awareness are vital in these tumultuous times.