CoachHub raises combined €16M to fuel European expansion and democratise access to executive coaching
HV Holtzbrinck Ventures, RTP Global, Partech and Speedinvest invest in Europe's leading digital coaching platform CoachHub
- Funding: Fresh €12M brings total funds raised recently to €18M; funding will be used to expand the platform into all European markets, with a focus on the UK, as well as to build a European think tank for business coaching
- Mission: CoachHub helps companies implement personalised coaching to employees via a global coach pool and an AI-enabled platform; its mission is to make coaching accessible to employees at every level
- Growth: CoachHub is now the largest provider of digital coaching in Europe, with 70 employees and plans to grow to 200 employees by mid-2020, including 20 UK hires
Berlin, Thursday 7 November 2019 -- Digital coaching platform CoachHub has raised a €12M funding round, from existing investors HV Holtzbrinck Ventures, Partech and Speedinvest and new investor RTP Global. Adding to the previous round of €6M just three months ago, the latest round brings total funds raised this year to €18M, recognising CoachHub’s position as the leading digital coaching provider in Europe.
The company will use the funding to accelerate the platform’s growth in the UK, alongside all other core European markets, such as France, Germany, Southern Europe, Benelux and the Nordics. Further it will grow it global pool of coaches and the AI-enabled coaching technology.
The company will also use the funds to further develop its Coaching Lab, 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, such as how to optimise their workplace performance and thrive on a personal level. Contributors include some of Europe’s leading professors, psychologists, coaches, researchers and learning experts.
Founded in Berlin by serial entrepreneur brothers Yannis and Matti Niebelschuetz, CoachHub democratises coaching by enabling access to employees at all career levels for coaching services traditionally only available to top executives. CoachHub’s coaches cover a range of disciplines including time management, stress management and leadership skills.
Since it launched in 2018, the company already boasts 70 employees, and is on track to grow to 200 people by mid-2020, including a strong sales team of 120 people. This makes it by far the fastest growing European company in this space. 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, who work remotely with employees at over 100 companies, including large corporations like Generali and Bosch Rexroth, and tech startups like SoundCloud and HelloFresh.
How it works
Companies 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.
CoachHub founder and managing director, Yannis Niebelschuetz, said: “We’re currently seeing huge momentum. Our customers love the product and are seeing measurable results in terms of increased rates of employee retention and happiness. Regular, tailored coaching sessions have been shown to have a tangible, positive impact on business and employee performance. However, the reliance of traditional formats on in-person coaching sessions, which is inflexible, time-consuming and unscalable, has kept coaching out of reach for all but the most senior staff. We are fundamentally disrupting the learning and development landscape and democratising access to business coaching.”
David Kuczek, General Partner of HV Holtzbrinck Ventures, said: “Digital coaching has become a billion dollar market that’s increasing year on year, and we see CoachHub as the clear category leader in Europe. We’re really impressed by the team’s execution in building this platform and the rapid customer traction it’s gained since launching last year."
Aleks Sibilia, Senior Manager Learning & Organisational Development at SoundCloud, said: “CoachHub’s approach perfectly supports the development of our managers and, in my opinion, should definitely be part of any modern management development.”
Andrea Göbbels, Head of Education and Training at Bosch, said: "Digital coaching provides the perfect solution for the training demands of a fast-based business like ours. The flexibility of CoachHub’s platform is one of the reasons why our employees love it - they can communicate with their coach anywhere and at any time."
CoachHub was founded by the serial entrepreneur brothers Yannis and Matti Niebelschütz. They are supported by a broad team of scientists and researchers and a board of scientific advisers. The CoachHub "Mobile Coaching Cloud" enables employees of all career levels to develop their full potential, while driving the transformation of their companies through digital, personalized coaching. A worldwide pool of top coaches and web as well as smartphone applications enable live coaching sessions via video calls. CoachHub improves the leadership skills of managers and helps teams to work together more successfully. With CoachHub, employees grow personally and professionally.
For more information, visit www.coachhub.io
About HV Holtzbrinck Ventures
Since 2000, HV Holtzbrinck Ventures has invested in internet and technology companies through various generations of funds, and is one of the most successful and financially strong early-stage and growth investors in Europe. HV has invested in more than 165 companies including Zalando, Delivery Hero, FlixMobility, and Scalable Capital. The total of all HV funds amounts to €1.05 billion. HV supports start-ups with capital of between €500,000 and €50 million, making it one of the few venture capitalists in Europe able to finance startups across all growth phases.
Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar. We bring together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents, with over €1.3B investment capacity. Investments range from €200K to €50M in a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Companies backed by Partech have completed more than 20 initial public offerings and more than 50 strategic exits above €100M.
About RTP Global
RTP Global is a Venture Capital firm focused on early stage digital investments. It supports young companies from various industries (e.g. mobility, AI, foodtech, fintech, healthtech, proptech, entertainment) with strategic know-how and a broad global network.
RTP Global has invested in over 50 companies worldwide, including 6 Unicorns: Yandex, EPAM, Delivery Hero, RingCentral, Tradeshift and Datadog.
RTP Global was founded in 2000 under the name ru-Net by serial entrepreneur Leonid Boguslavsky, who has a PhD in Computer Science. He developed one of the leading IT integration solutions for software and hardware manufacturer Oracle, which he then sold to PricewaterhouseCoopers (PwC) and subsequently became a partner there. RTP Global has offices in New York, Moscow and Bangalore.
Speedinvest is a pan-European investment fund with 230 million euros under management, which invests in technology start-ups in the seed phase. Speedinvest operates sector-specific focus funds in the areas of FinTech, marketplaces and Deep / Industrial Tech. In addition to cash investments, Speedinvest uses its network and know-how to provide operational support to start-ups. From its location in San Francisco, Speedinvest supports its portfolio in entering the US market. Speedinvest x is a focus fund with a volume of €50 million, which invests in early-stage startups in marketplace and network effects-driven platforms in Europe and North America. Speedinvest x' portfolio includes companies such as Tier, Packhelp, Byrd, Kodit and Coachhub.
Paul Southall and Maddie Wood, Ballou PR
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