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- BetterUp raises $300M at $4.7B ...
BetterUp’s company valuation has reached $4.7 billion with it closing $300 million in Series E funding round that was led by ICONIQ Growth, Wellington Management, and Lightspeed Venture Partners. The company is a behavioral coaching startup.
Mubadala Investment Company, Salesforce Ventures, Sapphire Ventures, SV Angel, Morningside Group, and PLUS Capital also participated in the round.
This latest round brings BetterUp’s total raised to $600 million, according to the company. The previous round of series D funding brought in $125 million.
Dr. Omar Dawood has been hired by the company for BetterUp Care, which is aimed at improving mental fitness and improving work performance, while BetterUp provides businesses and individuals coaching on topics on a wide range from parenting, nutrition, diversity, inclusion, and even sleep.
Cofounder and CEO Alexi Robichaux stated “We are in the midst of the great global awakening surrounding hybrid work, mental health and well-being, and diversity and inclusion,” further adding, “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.”
In the previous month, Motive and Impraise, two data-focused software companies were acquired by BetterUp and the company plans to use them for boosting their human behavior insights.
BetterUp shared its intentions of using this new capital to increase innovation and broaden its reach to a higher number of organizations and workers. The company would also like to create tailored solutions to the specific needs of workplaces.
In digital health, behavioral and mental health are large investment options with a $3.1 billion investment secured in the mental health clinical area.
Other examples of the investment potential in this sector include Lyra Health securing $187 million in Series E funding, and Modern Health raising $74 million in Series D funding.
