BetterUp raises $103M to fast-track employee learning and development
BetterUp, a company that connects employees with expert career and leadership development coaches online, has secured a $103 million Series C from Lightspeed Venture Partners, Threshold Ventures, Freestyle Capital, Crosslink Capital, Tenaya Capital and Silicon Valley Bank.
For access to its mobile coaches, which are meant to expedite development among employees and foster purpose and passion within the workplace, BetterUp offers a SaaS service to enterprises. Its customers include Airbnb, AppDynamics and Instacart, as well as 28 of the Fortune 1000.
The company said recently that the influx of Fortune 1000 customers has led to tripled revenue growth year-over-year.
“We are proud to be enabling innovative companies who recognize that their biggest asset—their people—deserve an elevated employee experience that speaks to who they are as whole persons, not just employees,” BetterUp co-founder and chief executive officer Alexi Robichaux said in a statement. “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.”
San Francisco-based BetterUp has previously raised about $43 million in venture capital funding since it was founded in 2012. It reached a valuation of $125 million with a $30 million