Berlin Coaching has meanwhile found its way into the business world. Employees as well as managers receive personal advice on a regular basis. At least since the corona pandemic, this has been happening increasingly digitally, which means greater flexibility. The Berlin start-up Coachhub has developed a platform that enables companies to create a personalized coaching program for the entire workforce.
The principle of Coachhub can be compared to a flat rate model: “Customers pay a license fee per employee, who can then take as many coaching hours as they want,” says Niebelschütz. Coachhub now has 3,500 coaches who offer advice in more than 60 languages and serve over 500 customers – including Coca-Cola and the Erste Group. The company itself has 800 employees worldwide.
“I believe that in ten years everyone will be using coaching,” says Niebelschütz. Demand is steadily increasing. “In times of crisis, it is particularly important to support employees in transformation processes such as takeovers, job cuts or plant closures.” The 37-year-old is certain that it pays off for companies to offer coaching opportunities: “There are fewer days off and skilled workers leave easier to keep.”
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Where is Coachhub going?
For Matti Niebelschütz, the goal is clear: “We want to be the global online coaching market leader. And show that this is also possible from Europe.” The brothers line up accordingly. Yannis now lives in New York to keep a better eye on the important US market. “We are present in all major economic nations,” says Matti Niebelschütz.
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For further growth, Coachhub has raised more than 300 million dollars from venture capitalists and has raised seven financing rounds in four years. The early-stage investor Speedinvest is one of the investors from the very beginning. “The start-up is based on a huge trend that will not go away,” says Speedinvest boss Oliver Holle, whose company uses Coachhub itself.
Nevertheless, Holle warns: “They too have to be careful not to grow too quickly.” Like most start-ups, Coachhub first wants to occupy the market and accept losses to do so. “I can’t say exactly when we’ll be profitable at the moment. But it won’t take five years,” says Niebelschütz, who does not rule out an IPO in the long term.
How big is the market?
So far, the term coaching has not been protected, which makes it difficult to get an overview of the size of the industry. In addition, there is a lack of current comprehensive studies. The last major survey relates to the year 2019. At that time, the management consultancy PwC, on behalf of the world’s largest coaching association ICF, estimated global sales at around 2.85 billion dollars. According to the ICF, the corona crisis has since paved the way for video consultations and significantly accelerated the growth of online offers.
Who are the competitors?
By far the biggest competitor is Betterup from the USA. Founded in 2013, the company has raised more than $600 million in venture capital and is valued at $4.7 billion. Customers include well-known corporations such as Google, Salesforce and Snap.
Betterup has also had a presence in Europe for some time, with offices in Amsterdam, London and Munich. In this country, the Americans were able to win Delivery Hero, among others, as a customer. The financially strong competitor made headlines above all with the engagement of British Prince Harry as “Chief Impact Officer”.
In addition to Betterup, there are other competitors, some of whom only focus on individual aspects such as meditation. This includes the US start-up Headspace as well as Apple with its “Fitness plus” offer.
Every week, the Handelsblatt presents young companies that managers, entrepreneurs and those interested in business should now take a look at. The focus is on the innovation potential, which investors also pay particular attention to. The business models and ideas could also provide new impetus for products and solutions in other sectors.
More: You can find more start-up checks here