CoachHub

CoachHub is a German company founded in 2018 that develops the service of the same name for personalized employee training. Professional psychologists, teachers, personnel specialists and other professional mentors who advise company employees are connected to the platform. In CoachHub, artificial intelligence is used that selects teachers for certain requirements of the customer.

As a rule, training is arranged twice a week through the service. They are made using video calls through smartphones or computers. Mentors send customers reminders, messages and set digital tasks in a separate chat. The progress of training is displayed in visual form and is not available for public viewing, including to HR departments of companies whose employees are trained.

History

2021: Raising $80 million

In early September 2021, the German company CoachHub raised $80 million as part of the B2 series investment round, increasing its total capital of the B series round to $110 million. Draper Esprit, HV Capital, Signals Venture Capital, Partech and Speedinvest, as well as Leonid Boguslav's fund RTP Global invested in the CoachHub. The total amount raised since 2019 amounted to $130 million.

According to CoachHub, during its existence, the company has increased by 3 times the number of its employees and attracted new customers to cooperate, including Fujitsu, Electrolux, Babbel, ViacomCBS and KPMG.

The Leonid Boguslavsky Foundation has invested in an AI platform for training employees CoachHub

Co-founder and chief commercial officer of the CoachHub, Jannis Nibelschütz, noted:

This latest round of funding will enable us to meet the ever-increasing demand for digital solutions for learning and personal development caused by the pandemic.

Draper Esprit Investment Director Christoph Hornung added:

It's not just a pandemic anymore. What we are increasingly seeing using digital, well-equipped platforms such as CoachHub is more dynamic and, most importantly, a more accessible tool for transforming companies through learning and education.

Representatives of CoachHub claim that the company uses AI to meet people with 2,500 business and welfare coaches in 70 countries on six continents. Coaching sessions are available in more than 60 languages. The company competes with other services such as the Boston AceUp, which raised $2.3 million.

Co-founder and chief executive officer of the CoachHub Matti Nibelschütz said that coaching has been inflexible, scalable and inaccessible to anyone but senior management for too long. The democratization of coaching for people of all career levels around the world allows more organizations to leverage the positive impact on employee productivity and well-being that individual coaching provides.^[1]

2020: Attracting investments from Leonid Boguslavsky Fund

In mid-December 2020, CoachHub, a platform for "talent development," which unites employees with business coaches, raised $30 million as part of the Series B funding round. The round was led by the venture capital company Draper Esprit, and the RTP Foundation Leonid Boguslavsky also participated in it.

In addition, existing investors invested in the CoachHub, including HV Capital, Partech, Speedinvest and Signal Venture Capital. The startup plans to spend the funds raised on accelerating the growth of CoachHub in the digital coaching market, in particular on attracting 1000 new coaches to its network, as well as hiring 120 new employees in Europe, Asia and the USA. So, it is expected that the team will increase to 300 people. Work is also underway to further develop Coaching Labs, a company that uses machine learning technologies and business analytics to stimulate research and develop patterns of behavior in the field of coaching.

The Leonid Boguslavsky Foundation has invested in an AI platform for training employees CoachHub

Analytics plays an important role in CoachHub. Employees can track their improvements and achievements through the CoachHub application, and HR teams can see how employees progress in their priority areas. Employee data is only provided to companies on an aggregated basis.

This ensures that individual employees can be open with their coaches, "said CoachHub co-founder Jannis Nibelschütz. - But at the same time, HR teams can see average usage statistics, satisfaction levels, and track similar indicators.

Commenting on the completion of the funding round, Jannis Nibelschütz noted that the coronavirus pandemic COVID-19 caused a huge surge in digital solutions for learning and personal development. Company executives and HR professionals are desperately in need of support as they move most of their operations into the online space. Thanks to the new funding, according to the head of CoachHub, the team will be able to continue to meet huge demand, significantly expanding the network.^[2]

2019: RTP Global Leonid Boguslavsky invested in CoachHub

On November 12, 2019, CoachHub announced the closure of the funding round, which amounted to 10 million euros. Both current investors, including HV Holtzbrinck Ventures, Partech and Speedinvest, and new ones, invested in the startup. The latter included the fund RTP Global Leonid Boguslavsky. How much funds each investor provided is not reported.

CoachHub announced the closure of the round of financing, which amounted to 10 million euros, among the latter included the fund RTP Global Leonid Boguslavsky

The CoachHub intends to spend the attracted investments on the development of the platform and its own research and development center called Coaching Lab, as well as on expanding the staff from 75 people to 200 employees by 2020.

The company intends to attract as many mentors as possible to the service in Britain, France, Germany, Scandinavia and other European countries.

Three months before the closure of this investment transaction, the startup received 6 million euros from investors. As a result, the total amount of funds raised reached 16 million euros.^[3]

Notes