BetterUp™, the inventor of virtual professional coaching and global leader in mental fitness and human transformation for the enterprise, announced today the close of its $300 million Series E fundraise. Wellington Management, ICONIQ Growth, and Lightspeed Venture Partners led the round with participation from existing investors Salesforce Ventures and Mubadala Investment Company, also customers of BetterUp, along with Sapphire Ventures, Morningside Group, SV Angel, and PLUS Capital. This round brings the company’s valuation to $4.7 billion and total funding to $600 million, making BetterUp the largest mental health and coaching company in the world. The round also closely follows BetterUp’s $125 million Series D in February 2021.
“We are in the midst of the great global awakening surrounding hybrid work, mental health and well-being, and diversity and inclusion,” said Alexi Robichaux, CEO and co-founder, BetterUp™. “Never has the pressure been greater on our global workforce, and as we collectively redefine the workplace, it’s clear that every organization and every employee critically need support, growth, and transformation. From leadership and career development to mental fitness, connection, and belonging, customers are increasingly turning to BetterUp to support the most important part of their business—their people—in the most profound way possible: by focusing on their whole person growth and development, including their behaviors, skills, and mindsets.”
BetterUp’s latest round of investment will fuel new product innovation to further democratize coaching and reach hundreds of thousands of individuals within an enterprise, no matter their position or level within the organization. The funding will also propel BetterUp’s international growth, having most recently opened new offices in Munich, London, and Amsterdam, along with recent strategic acquisitions of advanced people experience platforms Motive and Impraise, announced last month.
Announcement: BetterUp™ Raises $300M to Support Mental Health