As a key player pushing forward the rise of digital coaching in the workplace, Berlin-based CoachHub has just raised over €191 million in new funding. The startup is a pioneering player in the edtech space and quickly becoming a global household name in this sector.
Digital coaching is a rising phenomenon and is regarded as one of the most effective ways to enhance socio-emotional and leadership skills as well as tackle the growing global talent shortage. Based in Berlin, CoachHub has been a revolutionary player in the edtech space with its digital coaching service and it’s now just picked up a massive €191 million.
The new funding was led by Sofina and SoftBank Vision Fund 2, following on from a €67.7 million raise last year. In addition to Sofina and SoftBank Vision Fund 2, existing investors Molten Ventures, Speedinvest, HV Capital, Signals Venture Capital and Silicon Valley Bank/SVB Capital also participated in the round.
Founded in 2018 by entrepreneurs Yannis Niebelschuetz and Matti Niebelschuetz, CoachHub’s vision is to create personalised, measurable and scalable coaching programs for the entire workforce, regardless of department and seniority level. In the process, organisations are able to reap a multitude of benefits, including increased employee engagement, higher levels of productivity, improved job performance and increased retention.
We talked to Yannis in 2020 to learn more about the inspiring vision behind the startup. Yannis also joined us at this year’s EU-Startups Summit where he was able to give an influential keynote on how to grow fast with maximum impact.
Matti Niebelschuetz, Co-founder of CoachHub, commented: “As workplaces continue adapting to the new normal of hybrid and remote models, leaders need individual support and solutions to boost employee performance, engagement and motivation, while keeping wellbeing at the forefront. Digital coaching offers these benefits and more, resulting in spiking global demand for CoachHub’s services.”
It’s reported that about 77% of learning and development professionals feel there is now a greater need to train and develop employees than ever before. Coaching plays an important role in people development strategies and CoachHub’s platform aims to democratize access to this vital educational resource.
Through web- and mobile-based applications, the revolutionary end-to-end digital coaching platform matches learners to a pool of more than 3,500 certified business coaches that speak more than 60 languages and reside in 90 countries, across all time zones. The app couples human intelligence with artificial intelligence technology to pair employees with their ideal coaches and curate a library of content that enhances their learning journey.
The berlin-based edtech company is supported by more than 150 product engineers and a world-class, in-house Coaching Lab that employs a team of 30 leading behavioural scientists and is headed by Prof. Dr. Jonathan Passmore, the renowned professional psychologist and coaching researcher.
This new investment is a significant testament to CoachHub’s market position and comes at opportune timing when the global edtech industry is undergoing rapid transformation and digitalisation. More and more companies are adopting digital coaching at scale and it’s predicted to be a segment with massive growth in the next couple of years.
Harold Boël, CEO, Sofina, added: “We believe 1:1 coaching will continue to be one of the most effective ways of enhancing the socio-emotional and leadership skills needed to thrive in an increasingly complex and rapidly evolving workplace. As a company that seeks to democratise access to quality coaching, CoachHub’s mission resonates with our Responsible Investment strategy. We look forward to partnering with them to further their global ambitions.”
CoachHub has already been noted as a super fast-growing startup. We put it on our list of the most disruptive edtech startups back in 2021, as well as our list of German startups to watch. The firm also acquired French digital coaching pioneer MoovOne in 2021 before then snapping up the coaching division of Klaiton in Austria in 2022 in order to build a global champion focused on democratising coaching.
Yanni Pipilis, Managing Partner at SoftBank Investment Advisers said: “The Learning and Development sector is witnessing strong secular trends toward the digitisation and personalisation of services. CoachHub’s digital platform aims to provide a tailored coaching experience to employees at all levels to help advance their careers. We are pleased to partner with Yannis and the CoachHub team to support their mission of democratising coaching.”
This latest round of funding will fuel further expansion within Europe, with plans to increase its headcount from 850 worldwide employees to more than 1,000 by the end of the year. The company already serves more than 500 customers, with leading household names like Coca-Cola, Danone, Toyota, LVMH, L’Oréal, Credit Suisse and Twitter as clients. It’s certainly going to be exciting to see what happens next!