HR TECHNOLOGY: CoachHub, the leading global digital coaching platform, has raised $200M in Series C funding, led by Sofina and SoftBank Vision Fund 2. The funds will be used to expand CoachHub's product innovation and operations, as well as to speed up the company's global development.
The Series C financing takes the company's total capital to $330 million. Existing investors Molten Ventures, Silicon Valley Bank/SVB Capital, HV Capital, Signals Venture Capital, and Speedinvest joined Sofina and SoftBank Vision Fund 2 in the round.
“The Learning and Development sector is witnessing strong secular trends toward the digitization and personalization of services," said Yanni Pipilis, Managing Partner at SoftBank Investment Advisers.
"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 democratizing coaching," he added.
The major growth investment round reflects CoachHub’s performance and global market standing. The digital coaching segment is predicted to increase by up to 100 times, encouraging most big businesses to boost digital coaching at scale by the end of the decade.
According to CoachHub's latest Global HR Survey, the majority (77%) of learning and development professionals believe there is a greater need to educate and develop employees now than before the Covid-19 pandemic.
“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,” said Matti Niebelschuetz, Co-founder of CoachHub. “Digital coaching offers these benefits and more, resulting in spiking global demand for CoachHub’s services.”
CoachHub's end-to-end digital coaching platform connects learners with over 3,500 qualified business coaches who deliver content in more than 60 languages and live in 90 countries across all time zones. The company's system combines human intelligence and artificial intelligence technologies to match employees with their ideal coaches and compile a library of information that will help them on their learning path.
CoachHub is backed by over 150 product engineers and a world-class, in-house Coaching Lab led by Prof. Dr. Jonathan Passmore, a recognized professional psychologist and coaching researcher.
“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.” said Harold Boël, CEO, Sofina.