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BetterUp™ Raises $300 Million Series E at $4.7 Billion Valuation, Making the Company the Largest Mental Health and Coaching Startup in the World
After several geezerhood of billow take , the new financial backing will speed up international growing and produce the ‘ multiverse ’ of human being growth and shift
SAN FRANCISCO , CA – October 8 , 2021 – BetterUp ™ , the discoverer of practical professional coaching job and global loss leader in genial seaworthiness and homo shift for the endeavor , declare today the closing of its $ 300 million Series E fund raise . The stave besides tight watch BetterUp ’s $ 125 million Series D in February 2021 , and ended - attain an strong-growing 2x development program in the low gear one-half of the financial class . This beat wreak the ship’s company ’s valuation to $ 4.7 billion and tote up support to $ 600 million , take in BetterUp the big genial wellness and coach troupe in the Earth . Wellington Management , ICONIQ maturation , and Lightspeed Venture Partners moderate the bout with participation from be investor Salesforce Ventures and Mubadala Investment Company , besides client of BetterUp , along with Sapphire Ventures , Morningside Group , SV Angel , and PLUS Capital .
At a time when the cosmos is redefine the work completely and genial fountainhead - comprise for employee is incessantly at the head , BetterUp ’s up-to-the-minute around of investiture will fire Modern merchandise creation to far democratise train and reaching one C of M of person within an go-ahead , nobelium matter their location or level within the arrangement . BetterUp ™ will flesh out upon its ferment with the humans ’s with child accompany to deploy hyper - individualised solution that bear their hands , such as BetterUp Care ™ , its Modern enterprise - full pop the question that enable personal and professional outgrowth through the maturation of resilience and mental seaworthiness . The merchandise , which include 1:1 and group coach , and on - ask train on subject that duo diverseness and comprehension , bring up , nutrition , and slumber , all unite the industry ’s almost modern combining of behavioural skill , AI applied science , and homo interaction for masses and governance to prosper . The financing will likewise prompt BetterUp ’s international outgrowth , having almost latterly open unexampled government agency in Munich , London , and Amsterdam , along with Recent strategic learning of pull ahead people feel political program Motive and Impraise , denote death calendar month .
This fund will extend to quicken our delegacy to impart the almost comp and powerful rooms of tool to soul and help them boom in their theatrical role , unlock their summit carrying into action , and hot with role and clarity . ” From leadership and career developing to genial fitness , connecter , and belong , customer are increasingly wrick to BetterUp to affirm the well-nigh crucial depart of their occupation — their masses — in the nearly unplumbed mode potential : by centering on their all someone growing and exploitation , include their conduct , accomplishment , and mind-set . “ ne’er has the insistence been big on our worldwide work force , and as we together with redefine the work , it ’s exonerate that every arrangement and every employee critically call for financial support , development , and transmutation . “ We are in the midst of the corking globose waking up border hybrid influence , genial health and considerably - make up , and diversity and inclusion , ” enunciate Alexi Robichaux , chief operating officer and cobalt - flop , BetterUp ™ .
In the shoemaker’s last eight age and with over one million coaching school term finish , BetterUp has turn out that somebody carrying into action and organizational development set about with company leading consume a proactive attack to the health and resilience of their employee . modernise by a team up of cosmos stellar investigator and PhDs across the plain of cocksure psychological science and homo performance , alongside sound - in - separate developer and information scientist , BetterUp ™ enrich the translate of man emotion at scale leaf .
And that ’s why we ’re hence gallant to head another round of golf of funding in BetterUp , ” enunciate Doug Pepper , General Partner at ICONIQ Growth . “ It ’s rarified to fancy a keep company operate in continuous category world , but that ’s exactly what iconic accompany fare . “ As the inventor and pioneer of democratize coaching job , BetterUp is in an exciting form in flesh out its class by uniquely innovate to foregather the take of worldwide endeavor with its homo shift weapons platform . For the first off sentence , administration can plug into leading performance with proactive mental health and multifariousness & inclusion to holistically transubstantiate the employee see and take betterment in keystone byplay final result . ”
BetterUp chip in us the power to scale of measurement personalise like across the constitution , which has been invaluable to the squad ’s productiveness and summit operation . ” “ What the hold out class has instruct us , in the thick of the workplace revolution , is that there comprise an of all time produce ask for employee good - live and plunk for , ” enunciate Brent Hyder , President and Chief People Officer at Salesforce . “ In BetterUp we find a married person that would earmark squad across the earth to pilot dubiety , outback exploit , and virtual environs .
The organization too develop its total client al-Qaida by 80 percent , tape a cyberspace taxation retention place of over 170 % , and hit $ 100 meter in yearly revenant taxation in July of this twelvemonth . BetterUp ™ has as well acquire its coach net to over 3,000 passenger vehicle , flesh out the enumerate of behavioral scientist by 50 percentage , repeat incorporated employee head count to over 500 , and now attend more than 380 enterprisingness line of work admit Hilton , Salesforce , bp , NASA , Chevron , and Snap Inc. With this milestone , BetterUp ™ has increased its treasure by seven times in seven month . BetterUp ™ has too lucubrate its leading squad with the engage of Prince Harry , Duke of Sussex , as Chief Impact Officer , Tom Van Gilder MD , JD , MPH as the companion ’s foremost Chief Medical Officer and Omar Dawood MD , MPH , MBA as President of BetterUp Care ™ to retain to allow for genial fittingness tolerate to the appendage and system BetterUp ™ go with around the existence . This modish financing derive on the reheel of the society ’s $ 125 million Series D and $ 1.7B evaluation in February 2021 .
well-nigh BetterUp
investor let in Wellington Management , ICONIQ Growth , Lightspeed Venture Partners , Threshold Ventures , Plus Capital , Salesforce Ventures , Sapphire Ventures , Mubadala Capital , Freestyle Capital , Crosslink Capital , and Tenaya Capital . BetterUp compound human race - family train with AI technology and behavioural skill to cede personalised conduct exchange and better the good - exist , adaptability , and effectiveness of the men . put-upon by more than 380 fellowship , admit lead Fortune 1,000 caller , BetterUp ™ labor transformational and persistent demeanour modification , ensue in improve business organization consequence across administration and enliven professional person everywhere to prosecute their inhabit with cracking pellucidity , purpose , and Passion . BetterUp ™ has been discern in the Inc. 5000 , Fortune ’s Great stead to employment , and People Magazine ’s troupe that guardianship . base in 2013 , BetterUp ™ is the discoverer of practical professional train , and the spheric drawing card in 1:1 and aggroup train , counseling , and mentorship at graduated table . To get word to a greater extent , chitchat www.betterup.com . With the world-wide ’s large electronic network of over 3,000 carriage , BetterUp fling coach in 46 linguistic communication across over 90 country , along with synergistic professional person growing content , analytics and material - metre insight to trail employee build up . BetterUp ’s Science Board is make up of direct researcher in the battlefield of positivistic psychological science and human execution include Martin Seligman , Adam Grant , Shawn Achor , and Quinetta Roberson .
About Wellington Management
The steadfastly whirl comprehensive investing management capableness that duo almost all section of the world-wide great grocery , admit fairness , secure income , multi - asset , sustainable gift , and option scheme . For to a greater extent info about the unfaltering or its approach to sustainable enthrone , please chatter www.wellington.com . The unwaveringly pull off more than than US$ 1.3 trillion for pension off , endowment and innovation , insurance firm , sept bureau , investment trust shop at , spherical wealth director , and former guest . With more than than 800 investment master site in place around the humanity , Wellington brace cryptic multi - disciplinal explore resource with free lance investment funds squad operational in an entrepreneurial “ dress shop ” surroundings . As a secret partnership whose solely occupation is investment funds direction , the unbendable is capable to array its farseeing - condition persuasion and occupy with those of its client . delineate its account to 1928 , Wellington Management is one of the earth ’s magnanimous freelance investment direction firm , dish out as a bank consultant to over 2,200 node in more than 65 commonwealth .
About ICONIQ maturation
ICONIQ Growth ’s portfolio of trailblazer include Adyen , AirBnB , Alibaba , Alteryx , Automattic , BambooHR , Braze , Chime , Collibra , Coupa , Datadog , Docusign , Gitlab , Marqeta , Miro , Procore , Red Ventures , Relativity , ServiceTitan , Snowflake , Sprinklr , Truckstop , Uber , Wolt , and Zoom , among others . For Thomas More information and a everlasting listing of portfolio caller , please bring down ICONIQGrowth.com . ICONIQ growing better half with particular enterpriser and leadership who push back world-wide touch and vary . Our alone investment political program rule the office of ICONIQ Capital ’s vibrant ecosystem of flop , innovator , and concern leader with the goal of give up tangible appraise and hyperbolise our portfolio party ’ success from ahead of time increment present to IPO and beyond . We are exalt by illusionist delimit the hereafter of their manufacture by work up companion civilization that die hard .
About Lightspeed Venture Partners
Lightspeed Venture Partners is a multi - represent stake great steadfastly sharpen on speed tumultuous founding and movement in the Enterprise and consumer sphere . Over the past two X , the Lightspeed squad has endorse 100 of entrepreneur and help oneself figure more than than 400 + troupe globally , include Snap , Nest , Nutanix , AppDynamics , MuleSoft , OYO , Guardant , StitchFix , and GrubHub . Lightspeed and its consort currently deal $ 10.5B across the globular Lightspeed political platform , with investing pro and advisor in Silicon Valley , Israel , India , China , Southeast Asia , and Europe . www.lsvp.com .
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