GoStudent acquires UK’s Seneca Studying and Spain’s Tus Media Group – TechCrunch
European EdTech unicorn GoStudent GoStudent has acquired the UK’s Seneca Learning and the Spain-based Tus Media Group in a transfer which extends it’s attain into areas not beforehand touched by the German unicorn. Seneca supplies Algorithmic studying content material whereas Tus Media is a an open tutoring market. Phrases of the deal weren’t disclosed.
Each acquired firms will proceed working independently underneath their present management groups and with their established model names. Launched in 2016, Seneca Studying didn’t beforehand tackle enterprise capital backing, in keeping with CrunchBase. Tus Media was additionally privately owned, with unspecified backing from Barcelona-based investor Redarbor.
The transfer comes a month after GoStudent raised €300M in a Collection D funding and follows GoStudent’s 2021 acquisition of Fox Schooling, an Austrian all-in-one faculty communication answer.
Seneca Studying is a “freemium” homework and revision platform within the UK with 7 million college students on it. Youngsters can select from KS2, KS3, GCSE & A-Stage programs.
Felix Ohswald, CEO and Co-Founding father of GoStudent, mentioned: “The UK is one in every of GoStudent’s core areas, and we purpose to change into the market chief. We have now listened to the wants of our prospects, and including a content material platform to our core providing is a vital strategic step for us, permitting us to additional enrich our studying choices and diversify our portfolio.”
Stephen Wilks, Co-Founder and CEO of Seneca Studying, mentioned: “Working with Felix and the GoStudent workforce will permit us to convey Seneca’s free content material and personalised studying expertise to thousands and thousands extra college students in several nations internationally. The workforce is worked up to construct on our success within the UK and take our product worldwide to offer extra kids entry to a tremendous free schooling.”
Based in 2011, Tus Media affords an open market for tutors serving 4 million college students, with academics in Spain, in addition to a number of European and LATAM nations.
Albert Clemente, Founder and CEO of Tus Media Group mentioned: “The acquisition by GoStudent provides us the thrust to additional scale Tus Media with all its manufacturers to new markets and broaden to even larger regional geographies.”
Gregor Müller, COO and Co-Founding father of GoStudent, commented: “Albert Clemente is likely one of the most passionate and devoted schooling entrepreneurs we’ve ever met. Working with him as a associate and studying from one another will permit us to get one step nearer to changing into the number one world faculty.”
David González Castro, founder and CEO of Redarbor – Tus Media’s former investor – commented: “In 2018, we acquired 20 p.c and later 30 p.c of participation in Tus Media. After the acquisition by GoStudent, we’ll go away the shareholding. I’m very pleased with all of the success we’ve achieved in collaboration and worth creation with Albert Clemente.”
GoStudent now has a roughly €3BN valuation. Based in Vienna in 2016 by Felix Ohswald (CEO) and Gregor Müller (COO) it supplies paid, one-to-one, video-based tuition to major, secondary, and college-aged college students utilizing a membership mannequin. Backed with €590 million in funding, traders embody Prosus Ventures and SoftBank Imaginative and prescient Fund 2.
Talking to me over a name Ohswald added: “Each of those firms are very complementary for GoStudent. Seneca has constructed an incredible content material firm, so that they created content material custom-made for the UK faculty curriculum that 1000s of academics after which thousands and thousands of youngsters use and that’s one thing we don’t have. We have now by no means carried out content material previously. So they create this content material factor that we’re lacking, and we wish to assist them scale their enterprise in lots of extra nations, whereas constructing some synergies.”
He added: “On the facet of Tus Media, they created an superior Website positioning-driven firm. So all of the visitors they generate on their market comes through Website positioning with no advertising spend. That’s one thing we’ve not achieved previously. Along with them we will study from them and in addition assist them to scale extra shortly.”