Austrian edtech GoStudent increases Series A round to €13.3M

Vienna-based e-learning startup GoStudent has raised an additional €5 million as an extension of Series A funding round led by the previous investors Left Lane Capital and DN Capital, der brutkasten reports. Earlier this summer, edtech secures its first €8.3 million Series A investment.  

CEO and co-founder of GoStudent Felix Ohswald

GoStudent develops a digital platform that connects students with teachers all around the globe. Before the start of each new “digital school” session, the platform conducts an AI-based diagnosis test to find out the true need of students and identifies the ideal tutor for them. Currently, the company offers 6, 12, and 24-month tutoring subscription packages that include one-on-one and group tutoring sessions. 

Since the last financing, GoStudent’s sales in the DACH region have increased by almost 50% and the customer base has increased by another 45%, the startup said. In addition, it has implemented its planned expansion and launched the platform in France, Belgium, Luxembourg and most recently Spain.

“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 has already gained the support of over 8,000 customers so far. We want to expand out of Europe by next year,” CEO and co-founder Felix Ohswald said.