GoStudent, a Vienna-based online tutoring platform, has announced the acquisition of two European EdTech companies, Seneca Learning and Tus Media.
With this acquisition, GoStudent will achieve its goal of becoming the leading global school and a leading education provider by expanding its reach into markets previously not addressed by the Austrian unicorn. The company also plans to integrate Seneca Learning's algorithm and AI-based features into its membership.
Both acquired companies will continue operating independently under their current leadership teams and with their established brand names.
Launched in 2016, UK-based Seneca Learning is a “freemium” homework and revision platform with 7 million students on it. The platform helps increase the efficiency of learning for everyone between the ages of 8-18. It covers loads of different subjects at KS2, KS3, GCSE, A-Level and International Baccalaureate (IB). Seneca's courses have been written by senior examiners at the major exam boards and updated over time to make sure the platform perfectly matches the child's exam board specifications and National Curriculum guidance.
Talking about the company, Co-founder and CEO of GoStudent, Felix Ohswald, said, "The United Kingdom is one of GoStudent’s core regions, and we aim to become the market leader. We have listened to the needs of our customers, and adding a content platform to our core offering is an important strategic step for us, allowing us to further enrich our learning offerings and diversify our portfolio."
Founded in 2011 by Albert Clemente, Spanish EdTech Tus Media offers an open marketplace for tutors serving four million students. The platform brings together teachers, students and academies to arrange online or offline tutoring sessions, based on the user’s preferences. Its goal is to make personalized and quality one-to-one education accessible to everyone, through its brands: Tusclasesparticulares.com, Voscours.fr, Letuelezioni.it and Classgap.com. The company operates worldwide with a special focus on southern Europe and Latam.
Commenting on the acquisition, Founder and CEO of Tus Media, Albert Clemente, said, "The acquisition by GoStudent gives us the thrust to further scale Tus Media with all its brands to new markets and expand to even bigger regional geographies. I am excited to continue in my role as CEO to ensure Tus Media’s success and grow the team further!"
GoStudent, co-founded by entrepreneurs Felix Ohswald and Gregor Muller in 2016, offers a digital learning platform for online teaching and paid individual courses for all school subjects. The start-up aims to help students reach their full potential and replace traditional tutoring through online teaching. It employs more than 1,300 people and works with over 15,000+ tutors. Currently, the EdTech unicorn is serving customers in 22 countries and over 1.5 million tutoring sessions are booked each month.
The Austrian EdTech unicorn sees the recent deal as an opportunity to enrich value for the students on its platform who will have access to the tool during tutoring sessions as well as get smart learning content that will help them memorise subject material at their own pace. In addition, GoStudent also aims to bring Seneca Learning’s services to markets outside of the UK.
The latest acquisition of Seneca Learning and Tus Media Group follows the acquisition of Fox Education, an Austrian all-in-one school communication solution, in 2021. The deal follows the strategy of gobbling up companies that have similar vision and can be integrated with GoStudent’s existing solution.
Last month, GoStudent had raised $340 million (300M Euros) in its Series D round of funding led by new investor Prosus, an Amsterdam-based consumer internet group, bringing its total raised to more than $590 million.