CoachHub raised a $200 million Series C led by Sofina and Softbank Vision Fund 2. Silicon Valley Bank/SVB Capital was one of the participants. CoachHub has raised more than $300 million.
The co-founding of CoachHub was done by brothers Matti and Yannis. A year ago, the company entered the Asia-Pacific region.
Over 3000 business coaches are spread across 90 countries on the platform. More than 500 companies have worked with it. Artificial intelligence-based tech is one of the reasons that CoachHub is able to scale.
The funding will be used to increase the number of employees by the end of the year. As it expands in Asia, the company will continue to hire.
CoachHub monetizes on a per person per month basis, which gives companies more flexibility when using their services.
He said that clients are now engaging with them in multi-year contracts. They see the value in bringing in a large portion of their workforce into digital coaching, not just for a specific moment in time but on an ongoing business.
CoachHub offers coaching for first time managers. Improving on soft skills can make a huge difference to the performance of the team.
Emotions can be supported by coaches. Employee engagement, mental well-being and retention have been put in the spotlight by the Pandemic. Emotional support is an important part of retention and the "Great Resignation" shows how burnt out employees are on feeling. Investing in employee well-being can bring meaning and purpose to their work.
Niebelschuetz said that they don't compare themselves to anyone else and that the biggest competition is the status quo.
CoachHub's platform is available in 14 different languages, and its coaches can speak 60 different languages. Behavioral scientists are included in the research and development teams.
In Asia, CoachHub wants to expand in Singapore, Malaysia, and Indonesia.
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