Online education has seen an upsurge with people being stuck at home due to the COVID-19 pandemic, with online social studies tuition and the like seeing more and more investment and patronage, as students, teachers, and parents see the value of online education.
Vienna e-learning startup GoStudent recently held a Series A funding round, managing to raise €13.3mn in funding during their Series A round, adding €5mn early in November, with Left Lane Capital and DN Capital leading investments during that round. As of mid-November 2020, the online social studies tuition platform managed to raise about €16mn.
GoStudent runs a platform that connects teachers from across the world to students for individual and group tuition sessions. The company uses a subscription model, offering 6, 12, and 24-month subscription plans for students of any age.
Both students and teachers also get access to software for assistance, letting them focus on the educational aspect without having to deal with administrative tasks. AI is used to help match tutors with students, and students can discuss with each other without worry.
The platform has expanded from the DACH region, entering other European markets like Belgium, France, Luxembourg, and Spain, and has plans to expand across the region. Though it was seeing solid growth prior to the COVID-19 pandemic, GoStudent reported a boost, with 100,000+ monthly sessions.
GoStudent CEO and Co-Founder Felix Ohswald stated that people across Europe have seen how platforms like theirs, and online tutoring, is useful for making high-quality education easily accessible to people. They say that, due to the fact that customers aren’t locally bound to tuition services, kids from all backgrounds, ages, and places of origin can be connected to the best tutors.
Left Lane Capital Partner Vinny Pujji says that they invested in GoStudent because of the Vienna platform’s affordable but high-quality solution that provides online education to students across the world.
Pujji says that GoStudent has a chance to take the lead of the European edtech industry, which has been shaking up the education and tuition sector in the region. The EU’s tuition industry, known for being traditionally offline is currently quite fragmented with the constant competition.