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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 follows 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 wellbeing coaches, who link up over video to focus on the workers’ strengths and weaknesses toward an agreed goal — this could be to help them improve their leadership skills, for example, or help them manage their stress levels.
Measurability plays a major part in the CoachHub platform, with data and analytics serving to help employees and managers track their improvements and achievements through the CoachHub app. At an aggregate level, this data can also help managers observe that the majority of their staff are focusing on stress management, for example, which might indicate that there are deeper cultural or time-management issues within the company.
The rapid global transition to remote work has positioned CoachHub well to capitalize on businesses’ growing reliance on cloud-based tools, with the company noting that it surpassed 2020’s “new business generation” in the first half of 2021, while it has also tripled its internal headcount.
“For too long, coaching has been inflexible, unscalable, and inaccessible to anyone but the highest executives,” CoachHub cofounder and ‘chief delivery officer’ Matti Niebelschütz said in a press release. “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.”
The company’s series B2 financing takes its total money raised to $130 million, and its latest cash injection was spearheaded by Draper Esprit, RTP Global, HV Capital, Signals Venture Capital, Partech, and Speedinvest.
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