Sounding Board's unique approach as well as customizable platform focus on coaching for business outcomes versus individual health & wellness.
Fremont, CA: Sounding Board, the premier cloud-based coaching platform, has declared the close of an oversubscribed $13.1M Series A funding led by Canaan Partners.
Canaan is joined by Correlation Ventures, existing investors Precursor Ventures, Bloomberg Beta, and learning luminaries David Blake, Ed Miller, Kevin Johnson, and Brett Queener.
During 2020, the overnight move to remote work caused by COVID-19 boosted enterprise demand for Sounding Board's Coaching Enablement Platform and managed coach network.
The digital coaching market is estimated at $30B by 2025, with explosive growth as enterprises shift to virtual, scalable coaching solutions. Sounding Board's customizable platform and unique approach focus on coaching for business outcomes versus individual health and wellness. Sounding Board solves the most challenging problems facing companies today - the ability to quickly develop leaders for measurable business impact, at scale, in times of rapid change. Their solution has attracted worldwide enterprises including Bloomberg, Intel, Kraft Heinz, VMWare, and Cloudera as well as rapid-growth startups such as Plaid, Chime, and Dropbox.
"Coaching broke through in 2020 as the go-to model for personalized leadership development. Demand for digital-first coaching platforms like Sounding Board accelerated as companies scrambled to shift their talent development strategies online," said Christine Tao, Sounding Board CEO who co-founded the company in 2016 with her executive coach, Lori Mazan, President & Chief Coaching Officer. "Sounding Board saw record growth heading into 2021, pointing to the market's urgent need for virtual solutions that are scalable and cost-effective. Our platform brings a systematic, data-driven approach to a traditionally service-driven industry - with measurable impact on the business."
"Coaching is at an inflection point – it's a massive opportunity and the timing is right. Sounding Board is the only company providing leadership development designed to drive business goals, unlike the many companies providing coaching for health and wellness," stated Maha Ibrahim, General Partner at Canaan. Ibrahim is expected to join Sounding Board's all-female Board of Directors effective immediately.