Vienna-based GoStudent, which connects college students to tutors on a digital studying platform, has raised a €70 million Series B funding round led by new U.S. investor Coatue. Coatue has been making “raids” into the European startup scene for the previous yr or so. It was joined by present buyers Left Lane Capital and DN Capital. This brings the full quantity raised to €83.three million.
GoStudent competes with offline gamers like Schülerhilfe in Germany and Acadomia in France, which concentrate on small-classes in studying facilities. By doing it on-line, GoStudent can introduce value financial savings for customers. It additionally competes the place tutors promote in conventional marketplaces like categorized adverts. The providing is much like Chinese gamers like Zhangmen, VIPKid and TAL Education.
The funding might be used for progress and enlargement into worldwide markets reminiscent of Turkey and Greece. GoStudent is aiming for 15 international locations throughout Europe and to develop its group to 800+ workers and 10,000+ tutors. It claims that greater than 250,000 tutoring periods are booked each month on its platforms.
Felix Ohswald, co-founder and CEO of GoStudent, mentioned in an announcement: “The series B investment makes us the best-funded consumer K12 education start-up in Europe! We are thrilled to receive such high confidence from existing and new investors on our way to revolutionize education worldwide. Our growth targets this year are enormous – the investment of 70 million euros will enable us to position GoStudent as the top player in Europe for making high-quality education widely accessible.”
Harley Miller, managing companion at Left Lane Capital mentioned: “It’s been an exciting journey as an investor to see GoStudent expand so elegantly across Europe, offering affordable yet high-quality education to the masses.”
Nenad Marovac, managing companion and CEO at DN Capital, mentioned: “We believe that GoStudent can be the dominant winner in online tutoring in Europe, by leveraging technology GoStudent democratizes quality education to all.”
