Investments

Scaling Personalized Coaching: Why We Invested in Xip

Research and experience have shown that 1:1 instruction leads to better outcomes than one-size-fits-all instruction. At Reach, we have made investments to help scale personalized learning in schools (Paper), in the workplace (Hopps), and now we’re thrilled to be leading a $5 million seed round for Xip, a company that helps consumers get personalized support from their favorite knowledge creators. We are joined by other incredible investors, including Jeff Weiner and Brian Rumao from NextPlay VenturesMark Williamson (COO at MasterClass), BDMI, and dozens of other startup founders and operators.

When we met Xip founders Chris Taylor (CEO) and Eddie Siegel (CTO), we knew this was a special team we were excited to back. They have worked together for over a decade, starting first as early employees at LiveRamp and most recently at their first startup, Wove, which exited to Samba TV. During the pandemic, Chris and Eddie, like many of us, picked up new hobbies like cooking and chess. But when they would get stuck on a problem, they were frustrated that they couldn’t just get an answer to their specific question.

This is how Xip started. They teamed up again and decided to build a company dedicated to making it easier than ever for consumers to learn, and for creators to generate meaningful and sustainable income.

Now more than ever, consumers are learning from their favorite creators across Youtube, TikTok, Twitch, and more. But it’s harder than ever for creators to figure out how to monetize and scale their expertise. Many turn to longer-form Zoom sessions (either 1:1 or in cohorts), which require aligning schedules, preparing for the session, and heavy facilitation — all easily adding up to dozens of hours of work. Often that becomes too time consuming, leading creators to offer instead asynchronous courses which are simpler to create but have shown to have low completion and engagement rates.

Xip offers a third way, combining the best of Cameo and Masterclass. On Xip, consumers ask their favorite knowledge creators specific questions related to what they are trying to learn, and creators can send personalized video responses typically within 48 hours. Users can access a community of creators boasting a broad range of expertise, from improving one’s golf swing to voice lessons. And creators love it. For example, PGA professional and golf coach Ben Hadden has bundled Xips into personalized courses and now earns four times his typical hourly rate from Zoom lessons.

Consumers also love it. They can learn at their own pace, at a time that is convenient for them, and from the comfort of their home. Instead of paying for a one-size-fits-all course, they can get answers to specific questions they’re struggling with. It’s no surprise 97% of customer reviews are 5 stars!

With this round, Xip is also announcing a $1 million Creator Fund. Building a business is challenging, and Xip wants to help by using the fund to provide income guarantees, equipment, waived setup fees, marketing support and other assistance. The team is committed to the success of creators and learners and the best way to do that is to ensure that knowledge creators have the support they need to thrive.

We are so excited to back Xip and continue to scale personalized learning to any place learners are. If you are inspired by Xip’s mission, please check out their open roles here!

You can also read the official press release here.