The world of professional coaching has grown over the years as coaches realized that they could easily coach people remotely and clients realized that digital coaching was much more efficient. But, equally, a problem arose in how to sift the wheat from the chaff. At the same time, companies realized that their own staff could benefit, but faced the same selection problem. In a classic internet game, CoachHub appeared three years ago and applied AI to a marketplace to do the screening. All very well, but with training and personal development almost entirely digital due to the pandemic, the market has exploded.
Based in berlin CoachHub it has now raised $ 80 million in a Series “B2” financing, increasing its total Series B capital to $ 110 million. Investors Draper Esprit, RTP Global, HV Capital, Signals Venture Capital, Partech and Speedinvest 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, along with existing investors HV Capital, Partech, Speedinvest, signals Venture Capital and RTP Global.
The startup competes with other aggregators like Boston’s AceUp, 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 Sales Director Yannis Niebelschütz said in a statement: “This latest round of funding will allow us to meet the growing demand for digital solutions for training and personal development, which has been triggered by the pandemic.”
Christoph Hornung, chief investment officer at Draper Esprit, said: “It is no longer just about the pandemic. What we see more and more with highly enriched and digital-prioritizing platforms, such as CoachHub, are more dynamic and, fundamentally, more accessible tools to transform companies through training and education. “
CoachHub says it uses AI to connect people with 2,500 business and wellness coaches in 70 countries on six continents. Coaching sessions are available in more than 60 languages.