Learning and development has never been so important to organizations.
Sounding Board has seen a sharp increase in popularity on the back of this.
In a Series B round, the company raised $30 million.
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Education is all the rage, as companies look to upskill existing staff amid worker shortages.
Sounding Board is one of the platforms that has seen its value increase as learning in the workplace has become a higher priority. The education platform, which connects leaders to coaches through a marketplace, has impressively seen sequential growth for the past seven quarters and has now secured a new round of investment.
Discussing the growth of the company during the pandemic, co-founders Christine Tao and Lori Mazan said in a company statement: “In the earlier stages of the pandemic, there was a huge shift to remote work and concern for how to develop leaders virtually.
“Today, it’s expected to see one-third of employees working remotely in 2022. CEOs and HR leaders have realized how urgently they need to develop new skill sets in their teams to meet modern business challenges.
“One of the biggest struggles has been the ability to manage and lead teams effectively, especially in a virtual world. This has not only led to record levels of employee burnout and stress, but also unprecedented attrition and turnover known as the ‘Great Resignation’.”
In these times the company notes that virtual leadership coaching has emerged as a go-to-model for talent development.
In order to continue the company’s growth, Sounding Board opened a new round of funding. In its Series B funding, the company managed to raise $30 million. The investment was led by Jazz Venture Partners.
JAZZ Venture Partners’ John Spinale will also join the company’s board.
On the back of the investment, Spinale noted that: “We are excited to be a part of the team at Sounding Board that is unlocking human performance in the workplace and ensuring that each and every employee can live up to their full potential.”
Sounding Board now has big plans for how it will develop.
Using the funding
In a blog post, Tao and Mazan, spoke about the future: “With our Series B round, we will accelerate our investment in data, reporting & science on the product & technology side, building towards our vision of becoming the coaching enablement platform for the world’s largest enterprises.
“We’ll continue to invest in our go-to-market teams to partner closely with new and existing customers to further deploy coaching across their orgs.
“And you’ll see us start to partner more broadly across the leadership and HR ecosystem to bring our innovative platform to more and more leaders.”
Exciting times are ahead for Sounding Board as the company continues to grow.
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