Vienna-based GoStudent, which connects college students to tutors on a digital studying platform, has raised a €70M Sequence B funding spherical led by new US investor Coatue. Coatue has been making ‘raids’ into the European startup scene for the previous yr or so. It was joined by current buyers Left Lane Capital and DN Capital. This brings the whole quantity raised to €83.3M.
GoStudent competes with offline gamers like Schülerhilfe in Germany and Acadomia in France, which deal with 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 labeled adverts. The providing is much like Chinese language gamers like Zhangmen, VIPKid, TAL Schooling.
The funding can be used for progress and growth into worldwide markets resembling Turkey and Greece. GoStudent is aiming for 15 international locations throughout Europe and to develop its group to +800 staff and +10,000 tutors. It claims that over 250,000 tutoring classes are booked each month on its platforms.
Felix Ohswald, co-founder and CEO of GoStudent mentioned in a press release: “The sequence B funding makes us the best-funded client K12 schooling start-up in Europe! We’re thrilled to obtain such excessive confidence from current and new buyers on our method to revolutionize schooling worldwide. Our progress targets this yr are huge – the funding of 70 million euros will allow us to place GoStudent as the highest participant in Europe for making high-quality schooling broadly accessible.”
Harley Miller, Managing Companion at Left Lane Capital mentioned: “It’s been an thrilling journey as an investor to see GoStudent broaden so elegantly throughout Europe, providing inexpensive but high-quality schooling to the lots.”
Nenad Marovac, Managing Companion & CEO at DN Capital: “We consider that GoStudent might be the dominant winner in on-line tutoring in Europe, by leveraging know-how GoStudent democratizes high quality schooling to all.”