Edtech unicorn GoStudent raises $95m for hybrid learning solutions and AI-driven study support

The latest round brings the edtech firm's total raised to date to $686.3 million.

Vienna-based edtech unicorn GoStudent has raised $95 million in a strategic fundraise from investors, including Deutsche Bank, SoftBank Vision Fund 2, Coatue Management, and Tencent. The company plans to use the funds to expand its "enhanced hybrid learning solutions" and GoVR virtual reality language learning services in the DACH region, referring to Germany, Austria, and Switzerland. It also intends to create AI-driven study support, such as an AI lesson plan generator to save an estimated 15 minutes per lesson, and bring in traditional tutoring. The latest round brings the edtech firm's total raised to date to $686.3 million.

GoStudent's latest round of funding comes after a $244 million Series C round and brings the company's total funds to $686.3 million to date. Founded in 2016, the online one-on-one tutoring platform tripled its revenue in 2020 with the spike in demand for online learning brought about by the pandemic. The company recently acquired a Germany-based traditional tutoring company, Studienkreis. In addition to the virtual reality language lessons, GoStudent also offers messaging services that connect students with subject matter experts in real-time to provide bespoke learning solutions. With the latest round of funds, the company aims to develop and offer improved services to students, remaining a leader in the online tutoring market.