TaskHuman lands $20M to expand its virtual coaching platform

TaskHuman, a professional development platform focused on coaching, today announced that it raised $20 million in Series B funding led by Madrona with participation from Impact Venture Capital, RingCentral Ventures, Sure Ventures, USVP, Gaingels, PeopleTech Angels, Propel(x) and Zoom Ventures. The latest infusion brings the company’s total raised to $35 million, which CEO Ravi Swaminathan said is being put toward product development, marketing and sales efforts.

Swaminathan and Daniel Mazzella co-founded TaskHuman in 2017, with the goal of connecting users with specialists on topics related to their personal and professional lives. Swaminathan was previously a program and logistics manager at Dell and VP of software solutions at SanDisk, while Mazzella was a system admin at Stamps.com. The two met at Wizr, a startup developing AI systems to analyze security camera footage.

“When it comes to learning and personal development, no amount of generic articles or watching pre-recorded videos [can replace] a real person with experience in a given area. Creating TaskHuman was our response to solve this challenge,” Swaminathan told ProWellTech in an email Q&A. “We started by offering foundational needs, including health and wellness, physical fitness, mental, spiritual, emotional wellbeing, and more. Since then, we’ve continued to expand and support the entire needs of an individual for personal and professional growth, like financial wellbeing, sales and leadership coaching, pet training, travel planning, and more.”

TaskHuman users connect with experts over live video chats. The company claims to have a network of over 1,000 “coaches” across nearly 50 countries, each specializing in distinctive areas. An AI-powered search feature lets users search for topics and coaches in natural language (e.g., “I want to lose weight”), while a recommendation engine attempts to personalize the browsing experience by suggesting, for example, similar coaches based on past sessions.

“TaskHuman has a direct relationship with each coach, and we pay them according to the terms of our relationship for their coaching contributions. They are all contractors globally,” Swaminathan said, when asked about the coaching payment structure.

Users can buy access to the TaskHuman network with “TaskHuman minutes,” which can be applied to a chat session with any specialist or topic, Swaminathan says. Alternatively, companies can subscribe to TaskHuman to offer unlimited access to their employees as well as in-app content and group sessions.

Image Credits: TaskHuman

Swaminathan makes the case that the enterprise in particular stands to benefit from TaskHuman’s platform. It’s true that corporate training programs tend to be a mixed bag, with only 25% of respondents to a McKinsey survey saying that their company’s training improved their job performance. According to another survey, 75% of managers were dissatisfied with their company’s learning and development function in 2019.

“At the board and C-suite level, many companies view insufficient attention to employee well-being as a threat to productivity and, conversely, a strong commitment to each worker’s physical, mental, and spiritual prosperity as a competitive advantage for recruiting and retaining talent in a time of labor shortages and the ‘Great Resignation,’” Swaminathan said. “From case studies, we have found return on investment in four main areas: preventing burnout, reducing employee attrition, improving employee engagement and recruitment, and reducing medical cost claims.”

Competition in the crowded e-learning field spans BetterUp, CoachHub and Torch. Swaminathan argues that his company’s offering is broader in scope, however, and offers superior access to specialists because it doesn’t require scheduling sessions in advance.

“We have found that the pandemic really allowed people to go beyond their comfort zones and embrace video technologies like TaskHuman, Zoom, RingCentral, and others,” Swaminathan said. “We feel a need to accelerate our mission during these difficult times to help people in both their personal and professional lives, and we feel an urgency to combat the current mental health crisis and Great Resignation culture by fulfilling the dire craving for 1:1, personalized engagement for personal and professional growth.”

Certainly, TaskHuman has benefited from the pandemic, which spurred coaches of all types to move online. According to a 2021 survey by the International Coaching Federation, 83% of coaches increased their use of audio-video platforms for coaching during the health crisis while 82% saw a decrease for in-person sessions.

TaskHuman says that its customers include Zoom, Dr. Scholl’s, RingCentral and public and government institutions like Purdue University, Oakland Housing Authority and Job Corps centers run by the U.S. Department of Labor. While Swaminathan declined to disclose financials, he said that annual recurring revenue has grown by more than 5 times year over year.

“Our company is laser-focused on global expansion and scaling its network of coaches,” Swaminathan said. “We will be continually adding to the set of human experience and expertise that are available on the platform and expanding support for providers in even more languages and countries around the world.”