GoStudent Secures €70 Million in Series B Funding

GoStudent, a Vienna-based company facilitating connections between students and tutors through its virtual learning platform, has successfully closed a €70 million Series B funding round. The investment was spearheaded by Coatue, a new U.S.-based investor who has been actively investing in European startups recently.

Existing investors, Left Lane Capital and DN Capital, also participated in this funding round. This latest injection of capital brings the total funding raised by GoStudent to €83.3 million.

Competitive Landscape and Value Proposition

GoStudent operates in a competitive market, challenging established offline tutoring centers such as Schülerhilfe in Germany and Acadomia in France. These traditional providers typically offer small-class learning experiences in physical locations.

By leveraging an online model, GoStudent is able to deliver cost efficiencies to its users. Furthermore, the platform provides an alternative to conventional tutor advertising methods, like classified listings.

The company’s approach shares similarities with prominent Chinese educational platforms including Zhangmen, VIPKid, and TAL Education.

Expansion Plans and Growth Targets

The newly acquired investment will be strategically allocated towards fueling growth and expanding GoStudent’s reach into new international markets. Specifically, the company is targeting expansion into Turkey and Greece.

GoStudent’s ambitions include establishing a presence in 15 countries across Europe. The company also plans to significantly increase its workforce, aiming for over 800 employees and a network exceeding 10,000 tutors.

Currently, GoStudent reports facilitating over 250,000 tutoring sessions each month through its platform.

Statements from Leadership

Felix Ohswald, co-founder and CEO of GoStudent, stated: “This Series B investment solidifies our position as the best-funded consumer K12 education start-up in Europe! We are incredibly pleased to receive such strong support from both our existing and new investors as we work to revolutionize education globally.”

He further emphasized, “Our growth objectives for this year are substantial, and this €70 million investment will enable us to become the leading provider of accessible, high-quality education in Europe.”

Harley Miller, managing partner at Left Lane Capital, commented: “Observing GoStudent’s elegant expansion throughout Europe has been a rewarding experience. The company is successfully providing affordable, yet high-quality education to a broad audience.”

Nenad Marovac, managing partner and CEO at DN Capital, added: “We are confident that GoStudent is poised to become the dominant force in the European online tutoring sector. Through the effective use of technology, GoStudent is democratizing access to quality education for all.”