Virtual coaching platform BetterUp, famous for hiring Prince Harry (yes the Queen’s grandson) as its chief impact officer earlier in 2021, has acquired two HR tech companies – Motive and Impraise – for an undisclosed sum.
The acquisition of Impraise, which is a people software company focused on data and analytics, will increase and improve BetterUp’s research and development capabilities significantly.
While Motive is a machine learning and natural language processing company that will bolster BetterUp’s proprietary AI algorithms with Motive’s emotion API technology.
This product helps HR teams and companies to identify emotions in employees’ language and therefore identify their level of engagement at work.
The pair will also help increase BetterUp’s 380 company-strong customer base, which includes the likes of AB InBev, Google, Hilton, Salesforce, Warner Bros, with the likes of Skyscanner, Sony, and CERN.
Talking about the acquisition, BetterUp CEO and co-founder Alexi Robichaux, CEO and co-founder of BetterUp said: “We are truly honored and excited to welcome Motive and Impraise to BetterUp.
“Their world-class teams have decades of experience developing breakthrough artificial intelligence and machine learning technologies, and building impactful products with consumer-grade user experiences.
“Motive brings a wealth of expertise in creating technology that enriches the understanding of human emotion at scale, and Impraise has been relentlessly committed to cultivating environments for people to do their best work through intuitive technology.
“We couldn’t be more proud to bring these teams on board and to take our member and partner experiences to even greater heights.”
BetterUp expands into Europe
In addition, this acquisition and merger will further broaden the San Francisco-based company’s European presence and comes just two months after it first moved into the continent by opening outposts in London and Munich.
Impraise is based in Amsterdam, so the Dutch will not become BetterUp’s third European base with an office.
This deal comes on the back of the company closing a $125 million Series D bringing its value to more than $1billion, as well as it passing $100 million in annual recurring revenue.