CoachHub, the leading talent development platform that enables global organizations to create a personalized, intuitive and impactful coaching program for the entire workforce, today announced an additional investment of €3.6 million to its Series A funding – bringing the total raised in 2019 to €18.9 million. The latest round of funding was led by existing investors, HV Holtzbrinck Ventures, Partech, Speedinvest x and RTP Global along with a new investor, signals Venture Capital.
The drivers of employee satisfaction and engagement have evolved over time – from transactional benefits, such as a recurring paycheck, health insurance and pension contributions to the current landscape where employees seek a sense of purpose, belonging, inclusion and personal growth. As a result, employee disengagement and high turnover have become a harsh reality in a large number of organizations worldwide.
In order to address and resolve these challenges, CoachHub wants to redefine how organizations think of, approach and build out their HR programs to include a personalized, scalable and measurable coaching technology – be it within the employee experience, employee engagement or L&D teams/programs or as an integral part of their larger digital transformation strategy across the entire organization. Both organizations and their employees are able to reap a multitude of benefits, including increased engagement, higher levels of productivity, improved job performance, acquisition of soft and hard skills, a stronger sense of purpose and alignment with company values, lower turnover and improved relationships with colleagues, managers and even customers.
“With employee disengagement and turnover rates soaring higher and higher every year, organizations simply cannot afford to keep their traditional mindset about HR programs if they want to keep employees happy, engaged, productive and, most importantly, empowered to do their best work and find a sense of fulfilment from their roles and employers,” said Yannis Niebelschuetz, Co-Founder & Managing Director of CoachHub. “With this latest round of funding, we’re pleased that our investors recognize and support the work that our teams are doing to build the best, most intuitive and impactful coaching platform in the world. We have ambitious goals coupled with a proactive strategy, talented teams and passion to make 2020 a monumental year for our business and all of the organizations that we serve.”
As CoachHub closes out the 2019 year, the company has signed over 75 new customers in 14 countries in this year alone, including the United States, United Kingdom, Germany, France, Switzerland, Spain and the Netherlands. These include some of the world’s most renowned global brands, such as Danone, Fujitsu and Generali.
According to Marcus Polke, Managing Partner of signals Venture Capital, “We have very stringent criteria for determining why and where we make investments. CoachHub has put technology to work to enable human interaction, encourage bespoke professional development and provide organizations with the tools to leverage their human capital. In times where rapid changes and transformations require adaptability from all, we find CoachHub’s mission truly compelling as enterprise software investors. We are excited to be joining this company and a fantastic group of investors on their journey to fundamentally transform professional development at work.”
In addition, CoachHub’s platform continues to receive positive feedback on the user experience and value from its end users (employees), with a 96 percent success rate in matching employees with the best-suited and most qualified coaches based on CoachHub’s highly intuitive 54-question assessment and AI-matching algorithm.