GoStudent has been valued at €1.4 billion making it Europe’s newest edtech unicorn and the highest valued K12 edtech company on the continent.
The company, which provides one-to-one video-based online tutoring, has achieved the status less than two and a half years after finding its current business model.
“We solve the fundamental problem of lacking access to top teachers”
In a recent Series C funding round, GoStudent managed to raise €205m. This follows a €70m Series B round in March 2021.
“At the heart of GoStudent is our mission to build the No. 1 Global School. The new investment and the resulting opportunities for continued international growth bring us one step closer to fulfilling our mission,” said Felix Ohswald, co-founder and CEO of GoStudent.
The Series C investment was led by new investor DST Global with participation from additional new investors including SoftBank Vision Fund 2, Tencent, Dragoneer and existing investors Coatue, Left Lane Capital and DN Capital.
With the additional financing, GoStudent’s total amount raised comes to more than €291m. The company said that the investment will mainly be used to drive global expansion.
With a presence in 15 countries, GoStudent said it will continue to strengthen its position as the market leader for K12 online tutoring in Europe.
“We are thrilled to receive such support from both existing and new investors as we continue on our mission to revolutionise education worldwide,” Gregor Müller, co-founder, and COO of GoStudent added.
“By connecting every student with their ideal teacher we solve the fundamental problem of lacking access to top teachers and, in turn, we make affordable, high quality education widely available.”
GoStudent grows approximately 30% month-over-month and books +400,000 tutoring sessions each month.
The company has expanded its team to more than 500 employees and has opened 12 offices, including new locations in Athens, Istanbul and Amsterdam.
In addition to further developing its presence in Europe, the company will also be expanding overseas, and plans to launch in Mexico and Canada this summer. The scale-up will also invest in branding, product development and first acquisitions.
By the end of 2021, it aims to be present in over 20 countries across the globe and will double its team to more than 1,000 employees and 10,000 tutors.