BetterUp, the San Francisco-based career mentoring startup, has recently secured $103 million in Series C funding. The round was spearheaded by Lightspeed Venture Partners alongside Threshold Ventures, Crosslink Capital, Tenaya Capital, Freestyle Capital, and Silicon Valley Bank.
Launched in 2016, BetterUp is a mobile-first platform that connects workers with certified coaches who work with individuals on a one-to-one basis either via phone, text, or video chat. The BetterUp platform, which operates on subscription-based SaaS model, also provides employers with analytics to track progress across areas such as leadership efficacy, productivity, and happiness.
The company expanded beyond its core one-to-one coaching platform last year with a bunch of new products, including a service it calls Extended Network — this includes all manner of specialists, covering effective communications, how to improve sleep, nutrition, and more.
“By combining human expertise, the latest advances in scientific research, and digital technologies including AI and machine learning, we’re delivering unprecedented levels of personalized learning at scale,” noted BetterUp cofounder and CEO Alexi Robichaux. “We’re transforming people and workplaces in the only way that’s sustainable — bottoms-up — one person at a time.”
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