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CoachHub, an AI-powered talent development platform used by companies such as Toyota, Fujitsu, and BNP Paribas, has announced $80 million in “series B2” financing. The raise comes nine months after the company’s initial $30 million series B round.
Founded out of Berlin in 2018, CoachHub uses AI-based matching algorithms to pair employees with some 2,500 certified business and well-being coaches who link up over video to focus on the individual’s strengths and weaknesses as they work toward an agreed-upon goal — this could be improving their leadership skills, for example, or managing their stress levels.
Measurability plays a major role in the CoachHub platform, with data and analytics helping employees and managers track their improvements and achievements through the CoachHub app. At an aggregate level, this data can also help managers see that the majority of their staff members are focusing on stress management, for example, which might suggest deeper cultural or time-management issues within the company.
The rapid global transition to remote work has positioned CoachHub to capitalize on businesses’ growing reliance on cloud-based tools, with the company noting that it surpassed 2020’s “new business generation” figure in the first half of 2021 and has also tripled its internal headcount.
Ultimately, CoachHub is about opening up personal development and coaching to everyone within a business, not just those at the top end of the talent pool or in specific departments.
“Coaching isn’t offered to everyone at an organization, but it should be,” CoachHub cofounder and chief sales director Yannis Niebelschütz told VentureBeat in a statement. “CoachHub makes coaching accessible to everyone and scalable across an organization. By fully digitizing coaching programs, organizations better support employee development across the entire workforce — not limiting coaching to certain departments or people of a certain seniority. This multiplies the benefits coaching brings — increasing productivity, engagement, and retention.”
The company’s series B2 financing takes its total raised to $130 million, with its latest cash injection spearheaded by Draper Esprit, RTP Global, HV Capital, Signals Venture Capital, Partech, and Speedinvest.
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