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GoStudent uses its warches to take over a large network of traditional tutoring centers in Europe londonbusinessblog.com

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GoStudent — the Austrian-based late-stage Tutor marketplace that has raised $686.3 million to date (and achieved a valuation of €3 billion) — the German-based Study trip, a traditional tutoring company, founded in 1974, focusing on the German-speaking ‘DACH’ region. The terms of the deal have not been disclosed.

Studienkreis was previously owned by London-based private equity firm IK Partners since 2017. It is best known as a tutoring provider in Germany with more than 1,000 learning centers across the country, serving 125,000 families annually.

GoStudent said Studienkreis would continue to operate under its existing brand name as the two companies looked for synergies

The acquisition gives GoStudent a substantial offline presence, a ready market for its online offerings, and the ability to cater to families who prefer their children to participate in group classes or in-center classes.

The startup has rolled up a number of other companies in the past 12 months, including Britain’s Seneca Learning, Spain’s Tus Media Group, and Austria’s Fox Education.

The global online tutoring market, worth $150 billion in 2020, is expected to reach $278 billion by 20261.
1 Global Online Tutoring Services Market Size, Status and Forecast 2021-2027.

According to data from Status and Forecast, the global online tutoring market was valued at $150 billion in 2020 and is expected to reach $278 billion by 2026.

Felix Ohswald, CEO and co-founder of GoStudent said in a statement: “Over 1.5 million online tutoring sessions are booked every month with GoStudent, but we believe the future of learning is hybrid. Combining online and offline creates an omnichannel model that adds maximum value to families and creates a barrier to competitors.”

Earlier this year, GoStudent raised a $340 million Series D funding round to enter international markets.

Meanwhile, in the more vertical language learning space, Preply closed a $50 million round this year.

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