GoStudent is Europe’s latest ed tech unicorn, following a $244 million Series C raise that valued the firm at $1.7 billion.
DST Global is leading the round, in which SoftBank, Tencent, Dragoneer and previous backers Coatue, Left Lane Capital and DN Capital are also participating.
GoStudent, an online tutoring marketplace used by K12 students, has a presence in 18 countries and records some 400,000 bookings a month – up 700% year-on-year.
The enterprise value attributed to GoStudent is a sign that Europe’s ed tech market – which has lagged behind that of the US and Asia – is maturing.
It also underscores investors’ appetite to pour large quantities of capital into online education start-ups amid the pandemic, which has accelerated the adoption of ed tech globally.
Austria-based GoStudent has raised €291 million to date, including a €70 million round only this past March and €13.3 million in a Series A this past November.
Date published: 22 June 2021