CoachHub, a German startup that allows all employees at a business access coaching previously only available to top executives, has raised €6 million to fuel its growth. HV Holtzbrinck Ventures, Partech, and Speedinvest x participated in the round. The growing coaching market currently consists of 53,000 coaches worldwide. BetterUp, a US-based rival CoachHub, recently raised a $103 million Series C.
Launched in 2018, CoachHub coaches cover fields like time management, stress management, and leadership skills. Companies invite employees to the digital coaching platform, where an A.I.-based matching system suggests three business coaches that perfectly fit the employee’s individual requirements.
Coach and coachee communicate directly via the CoachHub app on a smartphone or the web. Coaching usually takes place via biweekly video calls, and e-learning tasks are available to provide further personal development. At any time, employees can communicate with their coach via an integrated chat function.
Berlin-based CoachHub’s coaching pool currently consists of more than 300 qualified coaches worldwide, coaching in around 30 languages. Businesses that use CoachHub not only benefit from being able to provide their employees with high-quality professional development, but many employees see it as a real perk of their job.
More than 100 well-known companies, including major corporations such as Generali, Cargill, Hanseatic Bank, numerous DAX-listed companies, and innovative tech companies such as SoundCloud and HelloFresh, already use CoachHub.
With the fresh capital, CoachHub is now on its way to establish digital coaching throughout Europe, helping managers and high-potential individuals achieve top performance.
CoachHub founder and managing director Yannis Niebelschuetz stated: “CoachHub allows our customers to turn organizational challenges into opportunities. Coaches can be provided and scaled effortlessly throughout global corporate groups, meaning that effective coaching becomes measurable and affordable. With this investment, we’ll continue advancing our technology and significantly expand our global pool of coaching experts. Our rapidly growing team of 50 employees is delighted to provide this great innovation to people all over the world.”