Digital learning platform GoStudent achieves billion-dollar valuation. (picture alliance / dpa)
The Austrian e-learning company GoStudent is now valued at over 1.4 billion euros following a new investment round. The 205 million euros funding round is led by new investor DST Global, according to the company. The backers also include Japan's SoftBank Group with its Vision Fund 2.
GoStudent plans to use the investment to push ahead with its global expansion. In recent months, its workforce has grown to over 500 employees, the company said. The Austrian tutoring platform now has 12 locations, including Düsseldorf and Berlin. "In addition to expanding significant tutoring markets in Europe, the company also plans to enter new markets overseas such as Mexico and Canada by summer 2021," the company said. GoStudent also plans to put the money into brand building and product development, as well as initial acquisitions.
The Vienna-based company says it is growing by around 30 percent a month. More than 400,000 private lessons are booked per month. By the end of the year, GoStudent says it wants to be present in more than 20 countries worldwide and expand its team to over 1,000 employees and more than 10,000 tutors.
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