CoachHub, a Berlin, Germany-based digital coaching platform, raised €10M in funding.
Backers included existing investors HV Holtzbrinck Ventures, Partech and Speedinvest and new investor RTP Global.
The company, which has raised €16M in total funding, intends to use the capital to:
– grow its global pool of coaches in the UK, alongside all other core European markets, such as France, Germany, Southern Europe, Benelux and the Nordics.
– further develop its Coaching Lab, a think tank that drives behavioural research and development in the coaching space.
Founded by brothers Yannis and Matti Niebelschuetz, CoachHub provides a mobile service which enables employees of all career levels to develop their potential through live coaching sessions via video calls. Its coaches cover a range of disciplines including time management, stress management and leadership skills.
It works by allowing companies to invite employees to the digital coaching platform, where an AI-based matching system recommends three business coaches that fit the employee’s individual requirements and personal requests.
Coach and coachee communicate directly via the CoachHub app on smartphones or desktops.
Coaching usually takes place via biweekly video calls, and e-learning tasks are available to provide further personal development.
Employees have 24/7 access to their coach via an integrated chat function.
Coaching Lab is a think tank that drives behavioural research and development in the coaching space. It provides a repository of expert insights and tools to support the development of coachees. Contributors include professors, psychologists, coaches, researchers and learning experts.
The company has 75 employees and is on track to grow to 200 people by mid-2020, including a sales team of 120 people. The planned growth will include 20 UK hires in sales, marketing and operations. CoachHub has acquired a global network of more than 400 certified coaches, across six continents and 30+ languages. Its coaches work remotely with employees at over 100 companies, including large corporations like Generali and Bosch Rexroth, and tech startups like SoundCloud and HelloFresh.