BetterUp was founded in 2013 by Alexi Robichaux and Eddie Medina. CEO Robichaux has stated that he hopes to take the company public through an IPO, but has not disclosed specific plans or timing details. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
BetterUp is a mental health coaching platform that offers businesses the tools to take "a proactive approach to the health and resilience of their employees." The platform uses AI to match users with a coach to help them maximize their psychological performance. BetterUp has acquired the technology and personnel management companies, Mobile and Impraise. BetterUp has raised $600 million in venture capital funding from investors including Wellington Management, ICONIQ, Lightspeed Venture Partners, Threshold Ventures, Salesforce Ventures, Crosslink Capital, and Tenaya Capital. A $300 million Series E round increased the company's valuation to $4.7 billion, which according to the company, makes BetterUp the largest mental health coaching startup in the world.