GoStudent, a Vienna, Austria-based company that provides one-to-one video-based online tutoring, raised €300M in Series D funding and was valued at €3 Billion.
The round was led by new investor Prosus, with participation from Deutsche Telekom, SoftBank Vision Fund 2, Tencent, Dragoneer, Left Lane Capital and Coatue.
The company intends to use the funds to strengthen operations and expand its business reach. In details, the new funding will go towards international expansion (including new regions such as the US, Asia-Pacific and the MENA-Region), product expansion through M&A (acquiring K12 education services and products to create a cohesive and streamlined learning experience, following the purchase of all-in-one school communication app Fox Education in September 2021), and increased market share in existing geographies (increasing penetration in areas where tutoring services are highly fragmented and traditionally offline).
Led by Felix Ohswald, Co-Founder and CEO, and Gregor Müller, Co-Founder and COO, GoStudent provides a platform which offers paid, one-to-one, video-based tutoring to primary, secondary and college-aged students in 30+ subjects, using a membership model.
In 2021, the company expanded to 16 countries, including overseas markets like Canada and Mexico, and opened 19 international office locations. Over the past twelve months, GoStudent has grown its team by +1k employees and +10k tutors and plans to increase its team further by the end of 2022.