Employee coaching firm BetterUp valuation hits $1.73bln in latest fund raise

Founded in 2013, San Francisco-based BetterUp provides mobile-based coaching, counseling

  

Employee coaching service provider BetterUp said on Thursday it raised $125 million, taking its valuation to $1.73 billion.

The investment round was led by ICONIQ Growth, along with existing investor Lightspeed Venture Partners among others, and new investors including Salesforce Ventures and Abu Dhabi's Mubadala Capital.

Founded in 2013, San Francisco-based BetterUp provides mobile-based coaching, counseling and mentorship programs for employees of over 300 businesses including Chevron, Snap Inc and AT&T's Warner Media.

BetterUp said its customer base grew by 80% and annual recurring revenue more than doubled last year.

(Reporting by Ayanti Bera in Bengaluru; Editing by Shinjini Ganguli) ((Ayanti.Bera@thomsonreuters.com;))

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