BetterUp, a San Francisco, CA-based mobile coaching platform for Fortune 500 companies, raised $103m in Series C growth financing.
The round, which brought the total raised to over $142m, was led by Lightspeed Venture Partners with participation from Threshold Ventures (formerly DFJ Venture), Freestyle Capital, Crosslink Capital, Tenaya Capital and Silicon Valley Bank.
The company intends to use the funds to:
– accelerate international expansion,
– hire new employees and coaches, and
– develop new products and services that enable companies to scale personalized human development and support.
Led by Alexi Robichaux, CEO and co-founder, BetterUp provides employees with one-to-one coaching, available on demand 24/7, to improve leadership skills like resilience, growth mindset, creativity and collaboration, and drive new ways of leading and a new level of performance.
Along with its core coaching product, the company last year expanded its platform to offer on-demand coaching and an extended network of experts to address such issues as public speaking, sleep and nutrition.
The service is rapidly being deployed by leading global, multinational organizations, including Airbnb, Equinix, Instacart, Logitech, Mars, Symantec and Workday.
In 2018, BetterUp tripled growth for the second consecutive year, and now has more than 100 enterprise customers.