The investment was led by Iconiq Growth, with participation from existing investors Lightspeed Venture Partners, Threshold Ventures and Plus Capital. New investors Salesforce Ventures, Sapphire Ventures and Mubadala Capital joined the round.
The business works with clients such as NASA and Snap Inc. to help employees with a network of performance coaches, mentors and mental health counseling. BetterUp also has offerings to help companies improve their diversity and inclusion efforts.
For mental health, San Francisco-based BetterUp is part of a large category which includes an array of startups from Modern Health to Lyra Therapeutics Inc.