Austrian EdTech firm GoStudent raises €5 million

November 22, 2020

Austrian EdTech startup GoStudent has raised an additional €5 million in series A funding bringing its total Series A funding to €13.3 million

Austrian EdTech firm GoStudent raises €5 million

Austrian EdTech startup GoStudent has raised an additional €5 million in series A funding.  The round was led by Left Lane Capital and DN Capital.  The total investment in GoStudent now stands at €16 million.

GoStudent is an online learning platform that provides live lessons for students.  Based in Vienna, the company reports that it has over 10,000 registered users and a success rate which is over 95%.

Key features include:

– Creation of personalised learning plans for students

– Video lessons with tutors using screen sharing and a digital whiteboard which can be recorded for later viewing

– Tuition in the following subjects: maths, physics, German, English, biology and chemistry

– Prices which range between € 16.90 and € 26.90 per unit

– Parents can select between 6,12 and 24 month packages

The funds will enable GoStudent to continue its expansion in Europe.  It has already entered or is in the process of entering the following markets: France, Belgium, Luxembourg and Spain.  CEO and co-founder Felix Ohswald said: “During the current crisis, GoStudent became an eye-opener for parents across Europe and showed that online tutoring is the key to making high-quality education widely accessible. Because our customers are not locally bound to tutoring services anymore, kids of all backgrounds and ages can be connected to exclusively the best tutors through our virtual classroom.”

“ GoStudent’s high quality, yet affordable, solution is bringing many students into the world of online education for the first time. They have the opportunity to spearhead the European edtech movement in what has been a highly fragmented, traditionally offline market…” Vinny Pujji, partner at Left Lane Capital 

The Covid pandemic has undoubtedly helped GoStudent attract new customers.  By functioning entirely online, it is hoping to outcompete rivals including Superprof and MyTutor.  The investment by Left Lane Capital and DN Capital clearly signifies the confidence they place in GoStudent. 

“ GoStudent is expanding across Europe at lightning speed while maintaining a strong focus on superior learning outcomes…” Nenad Marovac, managing partner and CEO at DN Capital

You can learn more about GoStudent here: https://www.gostudent.org/