Sounding Board, a US-based online coaching platform has pulled in $13.1m through a series A round featuring Bloomberg Beta, the venture capital firm sponsored by media group Bloomberg.
The round was led by VC firm Canaan Partners and included Correlation Ventures, Precursor Ventures and private investors David Blake, Kevin Johnson, Ed Miller and Brett Queener.
Founded in 2016, Sounding Board has developed a cloud-based platform that provides a range of leadership coaching programmes. Its network of leadership coaches are located in more than 60 countries and cover more than 15 languages.
Christine Tao, chief executive of Sounding Board, said: “Coaching broke through in 2020 as the go-to model for personalised leadership development. Demand for digital-first coaching platforms like Sounding Board accelerated as companies scrambled to shift their talent development strategies online.”
The company will mainly use the funding to expand its product and engineering teams while bolstering its enterprise go-to-market strategy. It raised $650,000 from an unnamed investor in 2017 and $500,000 from another in January 2019, according to regulatory filings.
Four undisclosed investors provided a further $1.9m for Sounding Board in March 2020, according to another filing. Its earlier backers include SAP.io, the corporate venturing arm of software producer SAP, and AngelList, its website states.