Europe’s most valuable EdTech startup GoStudent raises $95M to grow its K12 online learning and tutoring platform

Despite predictions of disruption by artificial intelligence in the education technology sector, the EdTech market continues to grow with no sign of slowing down. This growth was accelerated by the increased need for in-person learning due to the worldwide pandemic, which forced millions of students across the globe to transition to remote learning from their homes.

At the beginning of this year, we looked into the EdTech space and shared our insights about the top ten global EdTech startups to watch for in 2023. Our list consists of the ten foremost educational startups that are currently shaping the EdTech landscape in 2023 and in the years to come.

Among the startups that stand out on our list is GoStudent, a Vienna, Austria-based K12 online learning and tutoring platform that matches tutors in a wide variety of school subjects, from math to arts, with students of all age groups and needs. Remarkably, as of January 2023, GoStudent witnessed a massive surge in search growth, boasting an impressive 9600% increase. So, it’s no surprise that GoStudent has grown its presence across the continent to become the most-valued EdTech startup in Europe with a valuation of $1.6 billion as of January this year.

But the upward trajectory for GoStudent didn’t stop there. Today, GoStudent announced it has secured $95 million in funding from Deutsche Bank, and other investors including Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue, and Softbank Vision Fund 2.

The latest funding, which pushes GoStudent’s valuation to €3 billion, also signals strong support for the EdTech unicorn’s vision to harness the power of innovative technology whilst maintaining the human touch and creating truly personalized learning solutions.  GoStudent will use the fresh capital infusion, which comes as a mix of equity and debt capital, to realize its hybrid vision and double down on AI integration.

The story of GoStudent began in Vienna back in 2016 when co-founders Felix Ohswald (CEO) and Gregor Müller (COO) first had the idea to create a free-to-use homework chat via WhatsApp, driven by a mission to simplify the lives of all students.

Nine years later, GoStudent now serves customers in more than 15 countries. Via its online platform, GoStudent provides paid, one-to-one, video-based tuition to primary, secondary, and college-aged students in 30+ subjects, using a membership model. The startup currently employs more than 1,500 people and works with more than 23,000 tutors, supporting over 11 million families each month.

With the new funding, GoStudent told TechStartups in an email that it plans to “develop an AI lesson plan generator, trained on the local curriculum, saving each tutor an average of 15 minutes per lesson.” The integration of AI will provide an enormous time saving considering the volume of lessons taking place on the GoStudent platform each month. The startup also said it will introduce AI-driven content-based learning to its platform, meaning students can study in between lessons, engaging with content tailored to their specific needs.

In a statement,  GoStudent Ohswald said:  “We see daily the impact that tailored learning can have on a child’s confidence. By offering AI-driven study support or virtual reality lessons in group environments, alongside traditional tutoring, a truly bespoke learning path can be created for each individual child – readying them for their future.”

He added: “More immediately, though, families will have total flexibility via our hybrid model. If the preference is for offline tutoring, but the family is traveling for summer, 1:1 online lessons can be booked to ensure momentum is not lost. Or, if a child loves to learn English together with other children, but needs 1:1 support in mathematics, we can make this happen. For us, hybrid is about ensuring long-term learning success that suits the needs of the individual. This raise ensures we seize this opportunity, and signals confidence that we are driving the future of education.”

“As one of GoStudent’s earliest investors, we backed the company’s vision and are thrilled to see the team execute against it,” comments Harley Miller, CEO and Managing Partner at Left Lane Capital. “The team has honed its core online tutoring offering, built a sustainable model, and grown across Europe. As GoStudent doubles down on its existing VR capabilities, introduces smart AI tools, and drives synergies with Studienkreis, we see even further potential to complete its vision of hybrid offline and online tutoring, as well as introducing other technology-enabled learning modalities.”