Learning and development has rocketed up the agenda over the past few years.
Employees no longer want to just have a job they want to have a career – and they want their employer to help them grow and plan for their future. This goes some way to explaining why career development is a major cause of the ongoing ‘Great Resignation’.
It is no surprise that EdTech companies are thriving. Hot on the heels of apprenticeship startup Multiverse becoming the UK’s first EdTech unicorn, Berlin-based digital coaching platform CoachHub has closed a $200 million Series C round.
The investment was led by Sofina and SoftBank Vision Fund 2. Existing investors, such as Molten Ventures, Signals Venture Capital and SVB Capital also participated.
The Series C comes within a year of CoachHub’s $80 million Series B; the coaching platform has now raised a total of $330 million.
Founded in 2018, CoachHub’s mission is to democratize coaching and provide career development opportunities to all employees, not just management or senior leadership teams. It matches learners with its pool of 3,500 coaches from 90 countries that speak 60 languages.
A bright future for CoachHub
CoachHub is planning to use this latest influx of funding to continue to innovate its product offerings, as well as continue to expand globally, particularly in the US. Its clients currently include Coca-Cola, Toyota, L’Oréal, and Credit Suisse.
Talking about the round, SoftBank Investment Advisers’ managing partner Yanni Piplis commented: “The learning and development sector is witnessing strong secular trends toward the digitization and personalization 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 the CoachHub team to support their mission of democratizing coaching.”
Sofina’s CEO Harold Boël added: “We believe one to one 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 democratize 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.”
Watch this space; is CoachHub on track to be a coaching unicorn?
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