Berlin Coaching has meanwhile also made its way into the business world. Employees as well as managers regularly receive personal advice. At the latest since the corona pandemic, this has been happening more and more digitally, which means greater flexibility. The Berlin start-up Coachhub has developed a platform that allows companies to create a personalized coaching program for the entire workforce.
The principle of Coachhub can be compared with a flat rate model: “Customers pay a license fee per employee, who can then take as many coaching lessons as he wants,” says Niebelschütz. Coachhub now has 3,500 coaches who offer consultations in more than 60 languages and serve over 500 customers – including Coca-Cola and Erste Group. The company itself has 800 employees worldwide.
“I believe that in ten years everyone will benefit from coaching,” says Niebelschütz. Demand is steadily increasing. “In times of crisis, it is particularly important to accompany employees in transformation processes such as takeovers, job cuts or plant closures.” The 37-year-old is sure that it pays off for companies to offer coaching opportunities: “There are fewer days off, and it is easier to keep specialists.“
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Where are we going with Coachhub?
For Matti Niebelschütz, the goal is clear: “We want to be a 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 in order to have a better view of the important US market. “We are present in all major economic nations,” says Matti Niebelschütz.
>> Read here: The personality cult: HR techs are booming despite rising interest rates
For further growth, Coachhub has raised a total of more than 300 million dollars from venture capitalists and has financed seven financing rounds in four years. The early-stage investor Speedinvest is one of the sponsors of the first hour. “The start-up is based on a huge trending topic that will not go away,” says Speedinvest CEO Oliver Holle, whose company uses Coachhub itself.
Nevertheless, Holle warns: “You also have to be careful not to grow too fast.“ Like most start-ups, Coachhub wants to occupy the market first and accepts losses in return. “I can’t say at the moment exactly when we will be profitable. But it will not take five years“” says Niebelschütz, who also 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 extensive studies. The last major survey relates to the year 2019. At that time, the management consultancy PwC estimated global sales on behalf of the world’s largest coaching association ICF at around 2.85 billion dollars. According to ICF, since then the corona crisis has 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. The company, founded in 2013, has already raised a total of more than $ 600 million in venture capital and is valued at $ 4.7 billion. Its customers include well-known corporations such as Google, Salesforce and Snap.
Betterup has also been present in Europe for some time now, with offices in Amsterdam, London and Munich. Among other things, the Americans were able to win Delivery Hero as a customer in this country. However, the financially strong competitor made headlines above all with the appointment of the British Prince Harry as “Chief Impact Officer”.
In addition to Betterup, there are other competitors that sometimes 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 closer look at. The focus is on the innovation potential, which investors also pay special attention to. The business models and ideas could also set new impulses for products and solutions in other industries.
More: Here you will find more start-up checks
