- €70M investment raised by lead-investor Coatue (NY) and existing investors Leftlane Capital (NY) and DN Capital (London)
- GoStudent grows by 30% month-over-month on average
- GoStudent has a market presence in 10 countries
- +250k tutoring sessions are booked every month
Vienna, March 30, 2021: Vienna-based e-learning start-up GoStudent completed Series B round led by the new investor Coatue together with existing partners Left Lane Capital and DN Capital. With the total investment of €70M GoStudent becomes the highest funded consumer-facing K12 education start-up in Europe. The new investment was landed only 4 months after the increase of the Series A. In 2020 GoStudent received a total funding of €13.3M. The trust of the existing and new investors indicates a strong conviction in the continued exponential growth of the online education start-up.
Investment for further bold growth plans and expansions
The financing will be used to further drive the internationalization of GoStudent, advancing the presence in significant tutoring markets such as France, Spain, Italy, the UK, and Ireland. Turkey and Greece will be launched in the first half of 2021 amongst other countries. In addition, GoStudent will invest highly in branding and product improvement. By the end of the year, GoStudent aims to be present in at least 15 countries across Europe and grow its team to +800 employees and +10,000 tutors. Felix Ohswald, co-founder and CEO of GoStudent said about the series B investment: “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.” Gregor Müller, co-founder, and COO of GoStudent added: “Conquering Europe is only the first step. Our mission is to build the No. 1 Global School to help every student unlock their full potential. Thus, our mid-term goal is to become the largest education company in the world.”
GoStudent is European market leader in online tutoring
With +250,000 tutoring sessions booked monthly and a market presence in 10 European countries, GoStudent has meanwhile grown to become the market leader in revenue for K-12 online tutoring in Europe. Over the past months, GoStudent has expanded its team to +300 employees and opened up new offices in Lyon, London, Madrid, Dusseldorf, Berlin and Milan. New offices in Athens, Istanbul and Amsterdam will be opened in the second quarter of 2021. Laura Warnier, Chief Growth Officer of GoStudent on the importance of spreading the online tutoring of GoStudent across Europe said: “By connecting every student with the ideal teacher we solve a significant problem. Especially this year - while we have not yet overcome the pandemic - we will be an important partner for parents to fight the educational deficits of their children caused by school lockdowns and inefficient homeschooling across Europe. By the end of 2021, we aim to offer our tutoring services in +15 countries!”
“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. The pace at which they’re executing is extraordinary,” said Harley Miller, Managing Partner at Left Lane Capital and board member of GoStudent. “GoStudent is spearheading the European ed-tech movement in what has been a highly-fragmented, traditionally offline market,” Vinny Pujji, Partner at Left Lane Capital and board member of GoStudent added.
“We believe that GoStudent can be the dominant winner in online tutoring in Europe, by leveraging technology GoStudent democratizes quality education to all.” said Nenad Marovac, Managing Partner & CEO at DN Capital and board member of GoStudent. “The demand for the company’s product has been proven given the lightning speed of growth that the company is experiencing, over 800% in 2020.”
About GoStudent:
GoStudent is a digital learning platform for online education and the future of tutoring, connecting students with the best teachers worldwide for individual tutoring sessions. The ed-tech start-up was founded in Vienna in 2016 by Felix Ohswald (CEO) and Gregor Müller (COO) and is operated in the DACH-Region, as well as in Spain, France, Belgium and Luxembourg, United Kingdom, Ireland and Italy. On the platform, GoStudent offers paid individual courses for all school subjects to students of all ages using a membership model. The data-driven startup uses AI to support its rigorous tutor selection, onboarding processes and quality assurance of the tutoring sessions. So, the best possible tutor is matched with each student. Investors such as Coatue, Left Lane Capital, DN Capital and Speedinvest have already invested a total of 86 Million Euros. GoStudent employs +300 people at its offices in Vienna, Dusseldorf, Berlin, Lyon, Madrid, London and Milan. Monthly, over 250,000 tutoring lessons are booked. www.gostudent.org.
About Coatue:
Coatue is one of the largest technology investment platforms in the world with ~$40 billion in assets under management. Its dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, Coatue backs entrepreneurs from around the globe and at every stage of growth. Some of Coatue’s private investments have included Airtable, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.
About Left Lane Capital:
Left Lane Capital is a New York-based venture capital and growth equity firm, investing in high-growth consumer internet and technology companies that build lasting relationships with customers. Investing in Series A, B and C stage companies, the firm aims to partner with extraordinary entrepreneurs creating category-defining businesses that are fundamental to the human condition and spirit.
About DN Capital
DN Capital is a leading European early stage venture capital firm with operations in London, Berlin and Silicon Valley. The firm focuses on Seed, Series A and select Series B investments in software, fintech, marketplace, consumer internet and digital health companies. DN Capital’s mission is to support entrepreneurs in creating global category leaders. DN was an early backer in companies such as Shazam, Endeca, Auto1, GoStudent, Jobandtalent, Mister Spex, Hometogo, OLX, Remitly and Quandoo.
Media contact:
Stefanie Möllner I Head of PR & Communications
[email protected]
+43 660 1776552