The world of professional coaching has grown over the years as coaches realised they could easily counsel people remotely and clients realized digital coaching was far more efficient. But, equally, a problem arose in how to sift the wheat from the chaff. At the same time corporates realised that their own staff could benefit -- but faced the same sifting problem. In a classic internet play, CoachHub came along three years ago and applied AI to a marketplace to do the sifting. All well and good, but with training and personal development going almost completely digital due to the pandemic, the market has exploded.
Berlin-based CoachHub has now raised $80 million in a Series "B2" funding, increasing its total Series B capital to $110 million. Investors Draper Esprit, RTP Global, HV Capital, Signals Venture Capital, Partech, and Speedinvest all participated bringing the total funds raised to $130 million, since 2019.
Last year it raised a $30 million Series B round, also led by Draper Esprit, alongside existing investors HV Capital, Partech, Speedinvest, signals Venture Capital and RTP Global.
The startup competes with other aggregators such as AceUp out of Boston, which has raised $2.3 million.
The three-year-old startup says it has tripled its employees, and added new clients including Fujitsu, Electrolux, Babbel, ViacomCBS and KPMG.
Co-founder and Chief Sales Director Yannis Niebelschütz said in a statement: “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.”
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.”
CoachHub says it uses AI to match individuals with 2,500 business and well-being coaches in 70 countries across six continents. Coaching sessions are available in 60+ languages.