GoStudent Raises $340M Series D funding round as it pushes into international markets – TechCrunch


From fresh Grow K12 Online Tutor Market $ 244 Million Series C in June (Worth $ 1.7 Billion At the Time) GoStudent Raised $ 340 Million in Series D Rounds Leaded by New Investors Prosus, Amsterdam-based investment company, best known for investing in Latin American and US-based LatinX Internet Properties. Go Student has expanded into Mexico this year.

Also attended were Deutsche Telekom, SoftBank Vision Fund 2, Tencent, Dragoneer, Left Lane Capital and Coatue.

This will raise $ 669 million since Go Student was founded in Vienna in 2016, giving an estimated $ 3.5 billion / € 300 million valuation.

Felix Ohswald, Co-Founder and CEO of Go Student, said in a statement: By increasing access to quality education. “

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The new funds will be used to expand internationally, expand products through M & A, and increase market share in existing regions, the company said.

FahdBeg, COO of ProsusEdTech, said: The company has created a major global platform for K12 education, and its growth rate is remarkable. We are living in an era where technology is transforming education globally, and the exciting visions of founders like Felix and Gregor will reshape the way students learn in the future. “

In 2021, GoStudent expanded to 16 countries, including Canada and Mexico, and opened 19 international offices.

The company said it plans to enter the “minimum” of six markets this year, including new regions such as the United States, Asia Pacific and the MENA region. Expanded and diversified services through M & A (acquired Fox Education, an all-in-one school communication app in September 2021), investing in existing areas where tutoring services are “very fragmented and traditionally offline” increase.

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GoStudent is surfing a wave of interest in EdTech following the Covid-19 pandemic. This forced students to study online and then became seen as a much more efficient way to get a tutor (not just Covid safe). In addition to GoStudent, Kahoot, a Norwegian gamification learning platform! Is another European EdTech unicorn.

After an early period of business model experimentation, GoStudent began to focus more head-on on one-on-one tutoring. This allows students and their parents to choose a tutor for general tutoring or specifically for the purpose of taking an exam. Tutors are tested, scrutinized, and interviewed by GoStudent before joining the platform. That strategy and pandemic have come together to create great opportunities for the company and other EdTech startups.

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GoStudent Raises $340M Series D funding round as it pushes into international markets – TechCrunch Source link GoStudent Raises $340M Series D funding round as it pushes into international markets – TechCrunch