Austrian EdTech unicorn and leading global tutoring provider, GoStudent has raised $95 million in funding from investors, including Deutsche Bank, Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue, and Softbank Vision Fund 2. This strategic fundraising, which includes a mix of equity and debt capital, brings its total raised to $686.3 million.
With this investment round, GoStudent also aims to bring enhanced online and offline educational support to the DACH region. One key focus will be expanding its newly launched virtual reality language learning platform, GoVR. It intends to create immersive and engaging student learning experiences by leveraging virtual reality technology.
The Vienna-based company, valued at approximately €3 billion, plans to utilize the funds to expand its hybrid learning solutions to the DACH region and develop its virtual reality language learning platform.
Co-founded in 2016 by Felix Oswald and Gregor Müller, GoStudent provides paid, one-to-one, video-based tuition in more than 30 subjects to primary, secondary and college-aged students using a membership model. Its mission is to ensure long-term learning success – for a self-determined future for the students. The firm employs more than 1,500 people and supports over 5 million families monthly. It currently has around 23,000 tutors on its platform and develops an “AI lesson plan generator” trained on the local curriculum. The idea aims to save each tutor an average of 15 minutes per lesson.
Speaking on the fundraising, Co-founder & CEO of GoStudent, Felix Ohswald, said:
More immediately, though, families will have total flexibility via our hybrid model. If the preference is for offline tutoring, but the family is travelling for summer, 1:1 online lessons can be booked to ensure momentum is recovered. Or, if a child loves to learn English with other children but needs 1:1 support in mathematics, we can make this happen. For us, hybrid is about ensuring long-term learning success that suits the needs of the individual. This raise provides we seize this opportunity and signals confidence that we are driving the future of education.
CEO & Managing Partner of Left Lane Capital, Harley Miller, added:
As one of GoStudent’s earliest investors, we backed the company’s vision and are thrilled to see the team execute against it. The team has honed its core online tutoring offering, built a sustainable model, and grown across Europe. As GoStudent doubles down on its existing VR capabilities, introduces innovative AI tools, and drives synergies with Studienkreis, we see even further potential to complete its vision of hybrid offline and online tutoring and introduce other technology-enabled learning modalities.
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