GoStudent Completes Funding Round at 3 Billion Euro Valuation

(Bloomberg) -- Vienna-based education technology startup GoStudent GmbH has raised 300 million euros ($340 million) in a new round of funding to expand and make acquisitions.

The fundraising values GoStudent at 3 billion euros, the company said in a statement Tuesday. Prosus NV led the round, and other investors included Deutsche Telekom AG, SoftBank Group Corp.’s Vision Fund 2 and Tencent Holdings Ltd.

Chief Executive Officer Felix Ohswald said the company could do deals for content providers, and may consider an initial public offering in the next couple of years.

“The market will shift more and more toward online tutoring because of the convenience and quality you can assure,” he said in an interview.  

Ohswald said sales rose 700% last year to about 30 million euros in monthly bookings as students returned to classrooms following shutdowns due to the pandemic. 

GoStudent now has raised more than 590 million euros since it was founded in 2016. It offers online tutoring focused on schoolchildren from kindergarten through year 12 across 22 countries. 

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