Coachhub acquires French start-up

Both startups offer digital coaching for businesses, and now Coachhub is acquiring Paris-based Moovone. The merger of the two companies is expected to take place in the next few months.

Just earlier this month, Coachhub raised $80 million, and now the Berlin-based company is announcing the acquisition of its French competitor Moovone. Nothing was initially known about a sum. Together, the two startups plan to employ 500 people by the end of the year, with plans to grow in 2022 as well. The merger is expected to take place in the next few months.

"Our culture and synergies bring us together decisively as a combined company with more than double the clout," said Hugo Manoukian, one of the founders of Moovone. Since 2015, the Paris-based startup says it has coached 10,000 employees worldwide through its platform. Now it's merging its offering with Coachhub's to bring digital coaching to businesses. It is also bringing 200 clients including L'`Oreal, Orange and Axa.

"By joining forces, we continue to accelerate our global growth and development," Coachhub founder Yannis Niebelschütz said of the acquisition. "Our merger expands our pool of highly qualified coaches and our growing team will further expand and accelerate the development of innovative, scientifically proven functionalities and services." Niebelschütz announced new coaching offerings and new features on the platform in the coming period.

The Berlin-based company has been in existence since 2018 and now employs 3000 coaches. In the current funding round, Coachhub raised $80 million. According to its own statements, the start-up has tripled its number of employees and gained clients such as KPMG and Babbel. The service is currently available in 60 languages.