Draper Esprit is pleased to have led the $30m investment round in digital coaching platform CoachHub. The round was also joined by existing investors HV Capital, Partech, Speedinvest, signals Venture Capital and RTP Global.
CoachHub allows companies to invite employees to join the digital coaching platform, where an AI-based matching system recommends three business coaches who meet the individual requirements of the employee. Both the coach and coachee can communicate via the app, where calls typically take place bi-weekly and e-learning assignments are available to further personal development. The platform has a variety of clients ranging from large corporations such as Generali and Bosch Rexroth, to startups like SoundCloud and HelloFresh.
The news funds will be used to accelerate CoachHubs growth in the digital coaching market. The company plans to add 1,000 coaches to its networks as well as make 120 new hires across Europe, Asia and The US, scaling their team to 300. Also in the works is further developing the company’s “Coaching Labs” which uses machine learning technology and business intelligence to drive behavior research and development on the field of coaching.
Christoph Hornung, investment director at Draper Esprit commented:
"If 2020 has shown us anything, it’s that the future of work will look very different to what we expect and can change faster than anyone thinks possible. CoachHub’s technology is helping some of the world’s top companies transform today to be ready for tomorrow. We are delighted to be backing CoachHub and we’re excited by their potential scale."
Matti Niebelschütz, Co-founder & MD, CoachHub:
"We decided to partner with Draper Esprit because of their excellent investment track record and their reputation in the Startup and VC world. They are fantastic to work with, hands on, and always ready to roll up their sleeves and to support."
Yannis Niebelschütz, co-founder and chief marketing and sales director, CoachHub commented:
“The pandemic has triggered a huge surge in digital solutions for training and personal development. Company leaders and HR professionals are desperately looking for support as they move more of their operations online. With new funding, we can continue to meet the enormous demand whilst significantly expanding our network.”