BetterUp Strengths, Domain Expertise, and Key Differentiators
Founded in 2013, BetterUp is the human transformation company driving peak performance in individuals and organizations through unparalleled access to coaching, content, community, and AI. BetterUp is the inventor of virtual coaching and the largest mental health and coaching startup in the world, with the world’s largest network of over 4,000 Coaches offering support in 64 languages across over 70 countries.
BetterUp Recent Developments
In November 2023, BetterUp launched BetterUp Manage. This new offering is an AI-powered solution tailored for businesses, aiming to enhance manager development, foster high-performing teams, and unlock performance at scale. BetterUp Manage integrates science-backed learning experiences with human connection to provide a comprehensive solution for organizational growth and success. In April 2020 BetterUp launched BetterUp Live, a weekly, live web series featuring best-selling authors, Olympians, psychologists, and entertainers to foster connection, learning, and resilience amid the COVID-19 crisis.
In March 2020 BetterUp introduced two new product innovations - Identify AI and Coaching Clouds - to help organizations deliver more effective, hyper-personalized coaching at scale to any employee at any level in the organization. BetterUp’s new Identify AI is a proprietary AI that delivers hyper-personalized development recipes based on organizational priorities and individual preferences. Identify AI starts by understanding the strategic priorities of a company. It then accurately and efficiently diagnose the growth and development needs of an organization’s entire employee population by understanding where each person is in their career, their mindsets and behaviors, learning preferences, and their readiness for coaching. Powered by these insights, Identify AI helps organizations determine who the right people are to invest in, and the appropriate dosage and type of coaching needed to best meet their needs. By leveraging integrations with HCM data, Identify AI also precisely locates and flags “peak” coaching opportunities in real-time and delivers customized content and goal setting tools at the right moment, such as when an employee is taking on a big change initiative, when someone is transitioning roles and has increased scope of responsibility, or when a person is moving locations to a new country.
In early 2019, BetterUp launched three new products; Extended Network, extending the coaching bench to a robust, rounded entourage of specialists ready to address issues such as sleep, nutrition, effective communication, peak performance, sales success; On-demand Coaching, coaching available within one hour, 24/7, and BetterUp 360, high-impact awareness-building tool leveraging self-assessment and peer evaluation.
BetterUp Mergers and acquisitions (M&A) Activities
In September 2021, BetterUp acquired two advanced technology software companies, Motive and Impraise. The merging of the companies and their teams will further enable BetterUp to harness the powerful combination of technology and human insight to help people maximize their potential.
BetterUp Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying BetterUp applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of BetterUp and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified BetterUp Lead, BetterUp Manage, BetterUp Care customers.
BetterUp Overview
Ownership: - x
Number of Employees: 500
Functional Market: Performance Management, Learning and Development,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
BetterUp Key Cloud and HCM Applications
BetterUp Lead, BetterUp Manage, BetterUp Care
BetterUp HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
BetterUp Revenue Breakdown by Type:
BetterUp HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
BetterUp HCM Applications Revenues By Verticals, $M:
BetterUp Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
BetterUp Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
BetterUp Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified BetterUp Customers
No. of BetterUp Customers: 600
No. of BetterUp HCM Applications Customers: x
No. of BetterUp Cloud HCM Customers: x
No. of BetterUp Cloud HCM Subscribers: x
Trusted by more than 600 organizations including NASA, Google, Chipotle, Salesforce, Hilton, and other leading Fortune 1,000 companies, BetterUp delivers on key impact areas – transformational leadership, resilience and readiness as well as manager effectiveness – all with the vision to inspire people everywhere to live with greater clarity, purpose, and passion.
BetterUp Market Opportunities, M&A and Geo Expansions
In October 2021, BetterUp received $300 million Series E fundraise. 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, and over-achieving an aggressive 2x growth plan in the first half of the fiscal year.
In June 2019, BetterUp received $103 million in growth financing in Series C. The round was led by Lightspeed Venture Partners with participation from Threshold Ventures (formerly DFJ Venture), Freestyle Capital, Crosslink Capital, Tenaya Capital, and Silicon Valley Bank. This funding is supposed to fuel BetterUp's international expansion, the hiring of new employees and coaches, and the development of new products and services. Just a year earlier, BetterUp managed to collect $26 million in Series B funding.
BetterUp Risks and Challenges
BetterUp may be one of the first digital coaching platforms, but in recent years the market is becoming more and more competitive.
BetterUp Ecosystem, Partners, Resellers and SI
BetterUp's integrations with platforms such as SAP, Workday, Microsoft Viva, Salesforce, Slack, and Degreed facilitate organizational transformation by linking growth experiences directly to employee milestones. These integrations enable seamless connectivity between BetterUp's services and various tools commonly used within organizations, enhancing the effectiveness and efficiency of employee development initiatives. By leveraging these integrations, BetterUp ensures that its offerings are easily accessible and deeply integrated into the existing workflows and systems of its clients, thereby maximizing the impact of its human transformation platform on organizational growth and success.
BetterUp Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- BetterUp Public Cloud and Infrastructure (IaaS)
- BetterUp Platform (PaaS)
- BetterUp Application Delivery
- BetterUp Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
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