GoStudent: Ed-Tech giant reaches unicorn status after raising Series C led by DST Global

GoStudent, the Vienna-based Ed-Tech scale-up which provides video-based online tutoring in 1-on-1 format, has raised a €205 million Series C round led by DST Global, with participation from additional new investors including SoftBank Vision Fund 2, Tencent, Dragoneer and existing investors Coatue, Left Lane Capital and DN Capital.

The new funding round comes just two months after the completion of the €70 million Series B round led by Coatue. GoStudent has now hit the unicorn status and, with a valuation of €1.4 billion, has become the highest valued K12 Ed-Tech company in Europe to date.

The investment will be used to further drive global expansion and strenghten its position as market leader in online education. Over the past twelve months, GoStudent has grown the team to more than 500 employees and it is on track to double to 1,000. Furthermore, the company expects to reach 10,000 tutors by the end of the year. With a presence in 18 countries, 12 recently opened offices and some 400,000 sessions booked monthly on its platform, the Ed-Tech company will also launch in Canada and Mexico this summer, which will act as a launchpad to continue expanding in LatAm and North America later this year.

At the heart of GoStudent is our mission to build the No. 1 Global Digital School. The new investment and the resulting opportunities for continued international growth bring us one step closer to fulfilling our mission.
(GoStudent Co-Founder and CEO Felix Ohswald)

We at DN Capital continue to be impressed by the team’s stellar execution. In just twelve months, the company has grown over 800% in revenues and 70x in value. While Covid-19 has certainly accelerated digital adoption in education, the pandemic was not uniformly positive for GoStudent’s business:

The pandemic had mixed effects. On the one hand there was a natural demand from kids and parents. But with the schools closed, there was less pressure, less exams, less demand for after-school study. That aspect had a negative effect. But more broadly, there was a BIG boost for digital education. So the mindset of the parent and family drastically shifted.
(GoStudent Co-Founder and CEO Felix Ohswald)

Nowadays, the general level of academic ambition has increased, as well as the higher competition between students to perform their best. This is where GoStudent comes to play by offering exceptional education and supporting students in a more convenient, affordable, and effective way.

GoStudent is one of the fastest growing companies that we have ever backed. The company has grown 800% in terms of revenue and 70x in terms of value since 2020 and we are convinced that this is just the beginning. We believe that GoStudent can become one of the top digital schools in the world. By leveraging technology GoStudent democratizes quality education to all at affordable prices.
(DN Capital Founder and Managing Partner Nenad Marovac).

We are proud to have been able to support Felix and his team since the very early days as investors in the Series A round in June 2020, helping the company to scale from a small team in Austria to becoming a global rocketship. Going forward, we are excited to continue supporting the team in their ambitious plans to transform the education market globally.