GoStudent, an Austrian EdTech unicorn and leading global tutoring provider, successfully raised $95 million in funding. This strategic fundraising was led by investors such as Deutsche Bank, Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue, and Softbank Vision Fund 2. This brings the total funding raised by the Vienna-based firm to $686.3 million, giving it a valuation of approximately €3 billion.
GoStudent was founded in 2016 by Felix Oswald and Gregor Müller. It offers one-to-one, video-based tuition in more than 30 subjects to primary, secondary and college-aged students through a membership model. It currently employs over 1,500 people and supports over 5 million families monthly. Furthermore, the firm has around 23,000 tutors on its platform and is developing an “AI lesson plan generator” trained on the local curriculum.
The funds will be used to expand GoStudent’s hybrid learning solutions to the DACH region and develop its virtual reality language learning platform, GoVR. Through this platform, the firm aims to create immersive and engaging student learning experiences by leveraging virtual reality technology.
Harley Miller, CEO & Managing Partner of Left Lane Capital, commented on the fundraising: “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.”
GoStudent’s mission is to ensure long-term learning success for students, while allowing them maximum flexibility. GoStudent’s Co-founder & CEO, Felix Oswald, stated: “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.”
In addition to this round of funding, GoStudent has been actively engaging in acquisitions. Over the past two years, it has acquired three EdTech companies — Seneca Learning, Tus Media, Fox Education, and Studienkreis, a traditional tutoring startup based in Germany. This move allowed the company to integrate complementary products into its platform and strengthen its position in the market.
Teachers and education professionals can look forward to GoStudent expanding its hybrid learning solutions and virtual reality language learning platform. By leveraging technology, the firm is aiming to create immersive and engaging student learning experiences. With the help of this new round of funding, GoStudent is well-positioned to continue its mission of ensuring long-term learning success for students.
