GoStudent — the late-stage tutor marketplace that has raised $686.3 million so far — has now raised another $95 million in what it calls a strategic fundraise from Deutsche Bank and other investors, including Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue and Softbank Vision Fund 2. The raise was described as a mix of equity and debt capital.
The company has been on something of an acquisition roll, using its war chest to roll-up complementary products, such as its acquisition last year of Germany-based Studienkreis, a traditional tutoring company.
The edtech unicorn (which has attained an estimated €3 billion valuation) says the raise will be used to bring “enhanced hybrid learning solutions to the DACH region.” In plain English, that means more online and offline educational support and an expansion of the use of its GoVR — GoStudent’s newly launched virtual reality language learning platform.
And of course, the company now says it has an “AI vision” and plans to “prioritise the creation of AI-driven tools.” Join the AI queue…
It now has around 23,000 tutors on its platform and will develop an “AI lesson plan generator” trained on the local curriculum. The idea is that it will save each tutor an average of 15 minutes per lesson.
In a statement GoStudent CEO and co-founder Felix 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.”
Harley Miller, CEO and managing partner at Left Lane Capital, added: “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.”
Source @TechCrunch
