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BetterUp Revenue, Valuation, Funding & Investors
BetterUp is valued at $4.7B as of October 2021, a 47.0x multiple on its last reported $100M revenue.
Last BetterUp valuation
$4.7B
Series E · Oct 2021
Last BetterUp funding round
$200K
Pre-seed · Feb 2024
BetterUp revenue
$100M
Series E · Oct 2021
Key investors in BetterUp
Lightspeed Venture Partners
Freestyle Capital
Threshold
SV Angel
Salesforce Ventures
Crosslink Capital
About BetterUp
BetterUp is a San Francisco-headquartered coaching platform serving Fortune 500 companies. The service pairs employees with ICF-certified coaches via video for leadership tracks focused on DEI and resilience. BetterUp integrates with Workday for goal alignment and measures outcomes through 360 feedback. Clients include NASA and Hilton with programs in 190 countries.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Oct 2021)
Valuation
$4.7B (Oct 2021)
BetterUp Valuation
BetterUp is currently valued at $4.7B, based on its Series E in October 2021.
The $300M round was led by ICONIQ Capital, Lightspeed Venture Partners and Wellington Management, with participation from Salesforce Ventures, Plus Capital, SV Angel, Sapphire Ventures, Mubadala and 1 other investor.
BetterUp's valuation has grown 38x from $125M at its Series B in March 2018 to $4.7B in October 2021, across 4 priced rounds.
BetterUp valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2021 | Series E | $4.7B | 47.0x |
| Feb 2021 | Series D | $1.7B | 17.3x |
| Jun 2019 | Series C | $710M | - |
| Mar 2018 | Series B | $125M | - |
BetterUp Revenue
BetterUp's latest recorded revenue is $100M, as of its Series E in October 2021. At a $4.7B valuation, that implies a 47.0x revenue multiple.
Revenue moved from $100M in February 2021 to $100M in October 2021, while the revenue multiple moved from 17.3x to 47.0x.
BetterUp revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2021 | $100M | $4.7B | 47.0x | Series E |
| Feb 2021 | $100M | $1.7B | 17.3x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
BetterUp Funding History
BetterUp has raised a total of $570M across 7 funding rounds.
BetterUp's first fundraising round was a $3M seed round in November 2016. The most recent completed round was a $200K pre-seed round in February 2024.
BetterUp funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2024 | Pre-seed | Salesforce Ventures | $200K | - | - |
| Oct 2021 | Series E | ICONIQ Capital (lead); Lightspeed Venture Partners (lead); Wellington Management (lead); Salesforce Ventures; Plus Capital; SV Angel; Sapphire Ventures; Mubadala; Morningside | $300M | $4.7B | BetterUp is a San Francisco-based SaaS platform providing virtual professional coaching, mental fitness tools, and human transformation services for enterprises, combining one-on-one and group coaching, on-demand content, behavioral science, and AI technology. It targets leadership development in areas like resilience, growth mindset, creativity, and collaboration, serving over 380 enterprise customers including Hilton, Salesforce, bp, NASA, and Chevron as of October 2021. On October 8, 2021, BetterUp closed a $300 million Series E funding round at a $4.7 billion post-money valuation, bringing total funding to around $600 million. The round was led by Wellington Management, ICONIQ Growth, and Lightspeed Venture Partners, with participation from Salesforce Ventures, Mubadala Investment Company, Sapphire Ventures, Morningside Group, SV Angel, and PLUS Capital. This followed a $125 million Series D in February 2021 at $1.73 billion valuation, representing over 2.7x value increase in eight months. Funds were earmarked for international expansion, including new offices in Munich, London, and Amsterdam, and recent acquisitions of Motive and Impraise. At the time of the Series E announcement, BetterUp reported reaching $100 million in annual recurring revenue (ARR) in July 2021, with customer base growth of 80%, net revenue retention over 170%, coaching network expanded to over 3,000 coaches, behavioral scientists up 50%, and corporate headcount doubled to over 500. The company more than doubled revenue year-over-year into 2021 amid remote work trends. BetterUp positioned itself as the largest mental health and coaching startup globally post-Series E, emphasizing category creation in employee coaching and mental fitness. Investors highlighted its rapid growth and potential in the work tech market, which saw $13.7 billion invested globally through Q3 2021. |
| Feb 2021 | Series D | ICONIQ Capital (lead); Salesforce Ventures; Plus Capital; Pau Gasol; Lightspeed Venture Partners; Sapphire Ventures; Mubadala; Threshold; Crew Capital | $125M | $1.7B | BetterUp is a digital employee wellness platform that provides app-based coaching, counseling, and mentorship services. The company combines behavioral science, AI technology, and human interaction to deliver personalized coaching across the enterprise, with offerings including 1:1 coaching, group coaching, and specialized support for topics such as diversity and inclusion, parenting, nutrition, and sleep. In February 2021, BetterUp closed a $125 million Series D funding round led by ICONIQ Growth, with participation from existing investors Lightspeed Venture Partners, Threshold Ventures, and Plus Capital, and new investors Salesforce Ventures, Sapphire Ventures, and Mubadala Capital. The round valued the company at $1.73 billion post-money, bringing total venture funding to $300 million at that time. By July 2021, just months after the Series D close, BetterUp achieved $100 million in annual recurring revenue, grew its customer base by 80%, and recorded a net revenue retention rate exceeding 140%. The funding was designated to accelerate product innovation and expansion, including the launch of BetterUp Care, an integrated mental fitness platform offering comprehensive behavioral health support. The company's rapid traction and strong unit economics—evidenced by the 80% customer base growth and net revenue retention above 140%—positioned it as a leading enterprise mental health and wellness platform serving large employers. |
| Jun 2019 | Series C | Lightspeed Venture Partners (lead); Tenaya Capital; Plus Capital; Freestyle Capital; Silicon Valley Bank; Threshold; Crosslink Capital | $103M | $710M | BetterUp is a San Francisco-based mobile coaching platform that connects employees with certified coaches for one-on-one sessions via phone, text, or video to enhance leadership skills, resilience, growth mindset, creativity, and collaboration. It operates on a subscription-based SaaS model, providing employers with analytics on progress in areas like leadership efficacy, productivity, and happiness. The platform expanded in 2018 with products like Extended Network for specialists in communications, sleep, nutrition, and more, combining human expertise, scientific research, AI, and machine learning for personalized learning at scale. Customers include Airbnb, Equinix, Instacart, Logitech, Mars, Symantec, Workday, AppDynamics, and 28 Fortune 1000 companies, with over 100 enterprise clients by mid-2019. On June 12, 2019, BetterUp raised $103 million in Series C growth financing led by Lightspeed Venture Partners, with participation from Threshold Ventures (formerly DFJ Venture), Freestyle Capital, Crosslink Capital, Tenaya Capital, Silicon Valley Bank, and Plus Capital. This brought total funding to over $142 million since 2016, following a $12.9 million Series A in November 2016 and $26 million Series B in March 2018. The round was described as the largest ever for tech-enabled employee coaching, behavior change, and wellness platforms. The funds were allocated for international expansion, hiring employees and coaches, developing new products and services for scaling personalized human development, and $20 million for evidence-based behavioral research via BetterUp Labs. The investment underscored confidence in BetterUp's approach to humanizing work by focusing on whole-person development to transform organizations from the inside out. Lightspeed's Will Kohler, who led the Series B, highlighted its measurable outcomes in changing lives and workplaces through human coaching empowered by technology. |
| Mar 2018 | Series B | Lightspeed Venture Partners (lead); Workday Ventures; Freestyle Capital; Threshold; Crosslink Capital | $26M | $125M | BetterUp is a San Francisco-based company founded in 2013 that provides a mobile platform connecting employees with expert career and leadership development coaches to foster purpose, passion, and performance in the workplace. It offers a SaaS service to enterprises, with early customers including Airbnb, AppDynamics, Instacart, and 28 Fortune 1000 companies. Funds were used to expand market reach and product offerings following prior Seed ($2.9M in Jan 2016) and Series A ($12.9M in Nov 2016) rounds. This round preceded a $103M Series C in June 2019 at $710M valuation, marking the largest funding then for tech-enabled coaching platforms, with later rounds scaling to $4.7B valuation in 2021 Series E. |
| Nov 2016 | Series A | Threshold (lead); Vista Venture Partners; SV Angel; Social Capital; Freestyle Capital; Crosslink Capital | $13M | - | BetterUp raised $12.9 million in a Series A funding round on November 16, 2016, led by Threshold (noted as DFJ in press release) with participation from Crosslink Capital, Freestyle Capital, Social Capital, SV Angel, and Vista Venture Partners. The funding supported the company's official launch to provide executive-level coaching to employees at leading companies including Facebook, Capital One, Logitech, Square, and Deloitte. BetterUp focuses on democratizing career coaching using behavioral science and positive psychology to help professionals thrive and companies build engaged workforces, targeting new managers, high-potential employees, new parents, and remote workers. |
| Nov 2016 | Seed | SV Angel; Ulu Ventures; Julia Popowitz; Graph Ventures; Afore Capital; Freestyle Capital; Lemonade Capital | $3M | - | BetterUp raised $2.9 million in its seed round in January 2016 to launch the platform and support early product development. A subsequent Series A round of $12.9 million followed in November 2016 led by Threshold. |
Who has invested in BetterUp?
24 investors have backed BetterUp across its funding rounds, including Lightspeed Venture Partners, Freestyle Capital, Threshold, SV Angel, Salesforce Ventures and Crosslink Capital.
Lead investors include ICONIQ Capital, Lightspeed Venture Partners, Wellington Management and Threshold.
BetterUp Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Nov 2016 | ||
| 4 | Lead | Mar 2018 | ||
| 4 | Lead | Nov 2016 | ||
| 3 | Participant | Feb 2021 | ||
| 3 | Participant | Jun 2019 | ||
| 3 | Participant | Nov 2016 | ||
| 3 | Participant | Nov 2016 | ||
| 2 | Lead | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Nov 2016 | ||
| 1 | Lead | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 24 BetterUp investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by BetterUp
BetterUp has acquired 3 companies to date.
Last acquisition by BetterUp was on November 1st 2024. BetterUp acquired Heyday for undisclosed valuation.
Latest Acquisitions by BetterUp
| Description | Heyday is a San Francisco-based AI platform that converts conversation recordings, meeting notes, and documents into searchable knowledge bases, concise quotes, and ready-to-share video clips. The tool captures data from Zoom calls, Slack threads, and Google Docs to enable sales teams to generate client proposals and marketing groups to create social media posts. Users query the database using natural language for instant retrieval of past discussions. Launched in 2023, Heyday integrates directly with CRM systems like Salesforce and collaboration apps to streamline content repurposing across remote work environments. | Motive Software is a Seattle-based analytics tool that uncovers AI-enabled insights from multi-channel data. It correlates signals from CRM, social media, and IoT sources to generate proactive alerts for sales and marketing teams. Enterprises in retail and telecom use Motive to visualize customer journeys and predict churn in real-time dashboards. | Impraise is an Amsterdam-headquartered people enablement platform for performance management. The tool facilitates continuous feedback, 360 reviews, and coaching via web and mobile apps. Impraise serves global clients in tech and finance with OKR tracking and engagement surveys. Acquired by growth platforms, it integrates with Slack and Microsoft Teams for real-time check-ins. |
| HQ Country | |||
| HQ City | San Francisco, CA | San Francisco, CA | New York City, NY |
| Deal Date | 1 Nov 2024 | 17 Sep 2021 | 17 Sep 2021 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all BetterUp acquisitions and their M&A valuation multiples. Start Free Trial | |||
BetterUp Competitors
BetterUp competitors include listed companies like SAP and Presight AI, and private ones like Zuoyebang, Modal Labs, Recursive Superintelligence and Checkr.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $33M | - | $10B | - | ||
| Publicly listed | $42B | $13B | $248B | 5.4x | ||
| Private | $300M | - | $4.7B | 15.5x | ||
| Private | - | - | $4.7B | - | ||
| Private | $800M | - | $4.6B | 5.8x | ||
| Publicly listed | $825M | $214M | $5.7B | 5.4x |
BetterUp Public Comps
BetterUp is still privately-owned, but its public comps include Graham Holdings, Workiva, TOTVS, Presight AI, Stride, East Buy, COL Global, Duolingo, McGraw Hill and Affle 3i.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.9B | $682M | 1.0x | 1.0x | 7.3x | - | |||
| $885M | ($33M) | 4.5x | 4.0x | (120.8x) | 24.0x | |||
| $1.1B | $318M | 3.9x | 3.2x | 13.7x | 12.1x | |||
| $825M | $214M | 6.3x | 5.4x | 24.4x | 20.8x | |||
| $2.5B | $580M | 1.2x | 1.2x | 5.1x | 4.8x | |||
| $850M | $98M | 3.0x | 2.8x | 26.3x | 22.4x | |||
| $247M | ($78M) | 10.8x | 8.9x | (34.3x) | (2053.7x) | |||
| $1B | $152M | 5.4x | 4.9x | 37.3x | 17.9x | |||
This data is available for Pro users. Sign up to see all BetterUp competitors and their valuation data. Start Free Trial | ||||||||
Common questions about BetterUp
| When was BetterUp founded? | BetterUp was founded in 2013. |
| Where is BetterUp headquartered? | BetterUp is headquartered in San Francisco, CA, United States. |
| Is BetterUp publicly listed? | No, BetterUp is a private, VC-backed company. |
| What is BetterUp's valuation? | BetterUp was last valued at $4.7B in its Series E in October 2021. |
| How much funding has BetterUp raised? | BetterUp has raised $570M across 7 funding rounds. |
| What was BetterUp's last funding round? | BetterUp's last funding round was a $200K pre-seed round in February 2024. |
| Who are BetterUp's investors? | BetterUp's investors include Freestyle Capital, Lightspeed Venture Partners, Threshold, Salesforce Ventures, Plus Capital, SV Angel, Crosslink Capital, ICONIQ Capital, Sapphire Ventures, Mubadala and 14 others. |
| What is BetterUp's revenue? | BetterUp's latest recorded revenue is $100M (October 2021). |
| What is BetterUp's revenue multiple? | BetterUp's latest valuation implies a 47.0x revenue multiple ($4.7B valuation on $100M of revenue). |
| Which companies are comparable to BetterUp? | Companies comparable to BetterUp include Zuoyebang, SAP, Modal Labs, Recursive Superintelligence, Checkr and Presight AI. |
| How many companies has BetterUp acquired? | BetterUp has acquired 3 companies, including Heyday, Motive Software and Impraise. |
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