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BetterUp: Prince Harry and unicorn coach🦄

Country: the USA
Valuation: $5 billion
Business model: app

Idea
This is a mobile-based startup offering wellness and leadership developments. It provides services of professional coaching, consulting, and mentoring. The progress of each individual is measured and tracked. BetterUp develops new mindsets allowing high performance within a constantly changing environment. It implies virtual coaching sessions, users practice and reinforce new kinds of behaviors and skills.

Genentech, Logitech, and Workday are some of the company’s clients. BetterUp motivates workers to build the skills to thrive both personally and professionally. Around 2,000 coaches offer their services in 50 languages and 66 countries. The monthly app subscription costs $249.

Background
Alexi Robichaux founded the startup in 2013. His aim was to enable all professionals to live with greater purpose, clarity and passion through one-on-one coaching. He was so fed up with corporative work and software development that decided to delve into mental practices. That’s how Alexi came up with BetterUp’s idea. He said: ‘I just asked myself why I helped people mentally develop only in off-duty hours? Why not combine it?’.

Royal acquaintance
In 2020, Harry and his wife Meghan Markle made a real boom in the press. They freed themselves from the royalty duties. Magazines all over the world wrote about the breaking news which brought the Prince on a roll.

Therefore, BetterUp decided to seize the chance for better promotion. They offered Harry a job as a chief impact officer in their company. The prince accepted the offer. His new status meant helping BetterUp implement initiatives regarding the product strategy and charitable activities. Of course, Harry’s presence substantially boosted the startup’s development. Though the prince enjoys his job very much.

Investments
At the beginning of this year, BetterUp attracted $125 million investments.
Later, the startup raised $300 million in the course of the latest round. Overall, investors have put around $600 million in the company. Currently, its valuation reached nearly $5 billion.

Plans
Now Harry is intended to open an office in London and employ 75 workers. The prince is going to participate in developing strategies, charity activities, and also public performances devoted to mental health. Harry is certain career coaching provides unlimited opportunities for a comprehensive betterment.

How do you feel about BetterUp’s story? Share in the chat 💬


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