Leadership development platform BetterManager has announced the completion of a $16 million series A funding round led by Education Growth Partners.

BetterManager’s seed funder, Polar Capital Group, also contributed to the round. 

The San Francisco-based startup plans to use the fresh funds to accelerate its efforts to scale its virtual leadership development solution.

Founding in 2017, BetterManager has supported the growth and development of people leaders–from new managers to senior executives–at over 200 organisations around the world through a combination of 1:1 executive-level coaching, collaborative group learning models (such as group coaching and training), practical e-learning tools, and actionable assessments.

“BetterManager highly integrated model has demonstrated consistently that it can enhance the quality of leadership across all levels of an organisation, all as it improves retention of managers and their direct reports. This investment is more than a transaction to us; it’s a partnership. BetterManager is a mission-driven company that was founded on and operates with social impact at its core,” said Stefan Szanto, Education Growth Partners.

John Topping, BetterManager president and COO said people don’t get the support needed to become better leaders and better managers – especially mid-level employees. “The most successful organisations understand that everyone deserves to learn and grow, and they reap the benefits of that understanding. They often experience higher retention rates, higher productivity, and improved business outcomes. Their employees are loyal because they feel valued as individuals,” Topping added.