GoStudent, a prominent ed-tech unicorn secures an impressive $95 million in a strategic funding round from investors including Deutsche Bank and Left Lane Capital. With a valuation of €3 billion, it plans to advance hybrid learning solutions, integrate virtual reality language learning, and create Artificial Intelligence-driven tools, reinforcing its status in the education sector.
GoStudent, a leading tutor marketplace in its late stage with an impressive funding history of $686.3 million, has recently secured an additional $95 million through a strategic fundraising effort. Notable contributors to this funding round include Deutsche Bank, Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue, and Softbank Vision Fund 2. This financing endeavor encompassed a combination of equity and debt capital.
The company has been actively engaging in acquisitions, effectively utilizing its substantial financial resources to integrate complementary offerings into its portfolio. A noteworthy example of this strategy is the acquisition of Studienkreis, a traditional tutoring company based in Germany, which occurred last year.
With an estimated valuation of €3 billion, this tech unicorn is determined to channel its newfound funding toward the expansion of innovative hybrid learning solutions within the DACH(Germany; Austria & Swiss) region. In simpler terms, this translates to an amplified provision of both online and offline educational support. A particular highlight is the extended utilization of GoVR, the company’s recently unveiled virtual reality language learning platform. Additionally, GoStudent has unveiled its ambitious “AI vision” and a commitment to the development of AI-driven tools, signaling a clear focus on cutting-edge technological advancements.
The platform currently boasts a substantial roster of approximately 23,000 tutors. Notably, an “AI lesson plan generator” is in the pipeline, calibrated to the specifics of the local curriculum. This strategic move is poised to streamline the teaching process, saving each tutor an average of 15 minutes per lesson.
Felix Ohswald, CEO and co-founder of GoStudent emphasized the profound impact of personalized learning on a child’s self-assurance. He highlighted the company’s intent to forge personalized learning pathways by leveraging AI-powered study support and virtual reality lessons in group settings, all while retaining the essence of traditional tutoring.
Harley Miller, CEO and managing partner at Left Lane Capital, underscored the company’s strategic direction. As GoStudent intensifies its focus on enhancing its virtual reality capabilities, introducing intelligent AI tools, and capitalizing on synergies with Studienkreis, the potential to realize its vision of seamless offline and online tutoring experiences becomes even more apparent.
