A $100M BET THAT ONLINE COACHING CAN MAKE A BETTER MANAGER

WIRED | 6/12/2019 | Adam Rogers
Click For Photo: https://media.wired.com/photos/5d004278a59542595e9c624f/191:100/pass/Business_DigitalCoachin_TA-969438456.jpg

The way Alexi Robichaux tells it, his online executive coaching company BetterUp didn’t start because he was a bummed-out, burned-out mid-level manager on a vision quest. Sure, he spent nine months of post-employment with self-improvement books, sports psychology, life coaching, executive coaching, and all sorts of other precision-guided gazes at his own navel. But that wasn’t what did it.

In fact, Robichaux had found coaching as a high school student, when he and a pal had a little business providing what he calls “development and coaching” to their peers. Put aside, for a moment, the reasonable shudder of fear that might shimmy up your spine at the idea of telling your high school peers what you’re insecure about. Robichaux says he came back around to the idea because of science. “I got really excited about the decades of science from positive psychology. It just wasn’t operationalized in my life or in the workplace,” Robichaux says. “I realized, man, if I had had this, it would have totally changed my personal performance … That would have had real, positive business outcomes and also life outcomes.”

Sound - Line - Pitch - Deck - Well

Does that sound like a line from a pitch deck? Well: On Wednesday, Robichaux’s BetterUp announced it had raised $103 million in venture capital, in a round led by Lightspeed Venture Partners. BetterUp provides coaching services to other companies, transmitted via digital device. “I think we all agree that we’re underinvesting in how to optimize the largest resource on the balance sheet, which is human capital,” says Will Kohler, a partner at Lightspeed. “If you ask, what do people want out of their workplace environment, one of the top responses is, to be developed, to get better, to develop their skill set.”

So now BetterUp is developing into a major player in the coaching and executive education world, alongside...
(Excerpt) Read more at: WIRED
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