DigitalCFO Newsroom | 24 August 2022
CoachHub Unveils New Office Space in Singapore and Boosts Coach Headcount by 75% This Year.
CoachHub, the leading global coaching platform, announced new growth milestones in APAC as it continues its global hypergrowth and works on elevating digital coaching on the back of its recent $200M Series C funding round.
After launching its APAC headquarters in Singapore earlier this year, the four year old digital coaching pioneer has unveiled a new office space and begun adding new hires to its 50-person strong team across the region with plans to double the headcount over the next year. The company has increased its coach headcount by 75% in APAC this year to offer more companies in the region the support they need to foster leadership and life skills across all levels and generations.
CoachHub has plans to boost its product offering as it looks to scale coaching across geographies in a high potential market, making it more personalised, measurable and affordable. The organisation currently has a global strategic partnership with Gloat, a workforce agility and talent marketplace platform, and has also launched CoachHub Academy: collections that are micro-learning playlists designed to take coaching journeys to the next level. The continuous company momentum underscores the significant market opportunity and burgeoning demand for high-quality, one-on-one enterprise digital coaching solutions.
According to CoachHub’s recent Global HR Survey, 77% of learning and development (L&D) professionals feel the need to upskill and develop employees has increased since the start of the pandemic. Digital coaching plays a vital role in boosting both employee upskilling and engagement, one of the reasons why coaching is expected togrow by up to 100 times by the end of the decade.
Commenting on their success, Tim MacCartney, Senior Vice President of CoachHub APAC, said: “2022 is a special year in our company journey as our team relentlessly races ahead marking new growth milestones and disrupting the coaching category with new innovations. APAC is an extremely important market for CoachHub since this is where coaching is still in its nascent stage and is expected to multiply amid an ever evolving workforce. As per industry reports, digital coaching applications and platforms are in the early innovator stages and the demand will keep growing. Our new workspace, products and hires in the region reaffirm our continuing growth momentum and underscores the massive industry potential.”
From zero last year, CoachHub has added a significant number of new logos till date, including Sodexo for Asia, Heineken in Vietnam, Nine Digital and Santos in Australia.
The Total Economic Impact (TEI) of CoachHub report, a commissioned global study conducted by Forrester Consulting on behalf of CoachHub, proves companies receive extensive benefits from an initial investment in the CoachHub digital coaching solution. Conservative estimates for enterprises using the AI-driven, one-on-one coaching platform over three years include a 260% return on investment (ROI), net present value of $3.3M, productivity gains up to $115.9M, 3% to 5% improvement in employee retention and an hour of HR time saved per employee.
Pointing towards key learning and development challenges in the region MacCartney says: “There is a growing understanding of the lack of effectiveness of traditional coaching methods and a band-aid approach to fixing people-challenges that companies in Asia face. At CoachHub, we are working closely with leaders in the region to rethink people development with the aim to empower more enterprise employees with skills that can help them be better leaders or managers, manage stress, handle conflicts and overall lead a better life.”
CoachHub’s platform is available in the most important languages in the region, including Chinese, Japanese, Korean, and the pool of coaches can speak not only in these languages but also Hindi, Tamil, Thai, Punjabi, Urdu, Malay, Marathi, Telugu, Gujarati, Tagalog, and many others.
CoachHub has secured USD 330M funding till date. After the recent acquisition of French coaching pioneer MoovOne and the coaching division of the leading Austrian business consultant Klaiton, the company is now increasingly investing in the Coaching Lab to drive scientific research that can lead to tangible outcomes which is its key differentiator. CoachHub plans to make a positive impact on the world of coaching and the business community at large and is on pace to increase its global headcount to 1,000 employees by 2023.