Austrian edtech unicorn GoStudent acquires Studienkreis, Germany’s tutoring provider
05 December, 2022, 09:40
The Vienna-based GoStudent, one of the world-leading online tutoring agents, has acquired Studienkreis that offers tutoring and school-accompanying lessons. The amount of the deal is not disclosed.
- Studienkreis is Germany’s leading tutoring company with over 1,000 learning centers across the country. Since 2012 the company has been offering its customers digital learning services and online tutoring for over 125,000 families every year in the DACH region.
- In November 2017 Studienkreis was acquired by London-based private equity firm IK Partners.
- Founded in 2016 by Felix Ohswald and Gregor Müller GoStudent’s platform provides paid, one-to-one, video-based tuition in more than 30 subjects to primary, secondary and college-aged students, using a membership model.
- To date, GoStudent employs 1,600 people, works with 23,000 self-employed tutors in 20 countries, and books over 1.5 million tutoring sessions per month.
- In 2022 GoStudent raises a Series D round of €300 million and more than doubles its company valuation to €3 billion.
- The amount of the transaction is not disclosed, but it aims to accelerate GoStudent’s strategy to combine the best of both the online and offline world and to give people access to quality education through technology.
“With today’s announcement, GoStudent now offers a full spectrum of learning solutions for every type of student and budget. In addition to our core, 1:1, online tutoring, we offer everything from freemium products to group classes. It’s this winning combination that will fuel our future growth while at the same time boosting profitability,”Felix Ohswald, CEO and co-founder of GoStudent, comments.
- Studienkreis will continue operating independently under its current leadership team, while the two companies aim to identify synergies over time.