Landmark Financing! – Herbst Kinsky advises Austrian unicorn GoStudent on EUR 300 million financing
Herbst Kinsky has once again advised GoStudent in the course of a sensational financing round. This time on its Series D in the amount of approximately EUR 300 million. This is the largest investment in Austrian start-up history to date. The valuation of the company underlying the round is around EUR 3 billion.
The lead investor in this round was Prosus, an investment company listed on the Amsterdam Stock Exchange, which holds participations in Tencent, Delivery Hero and Mail.Ru Group, among others. Thus, Prosus is among the world’s largest tech investment firms. In addition to Prosus, renowned existing investors Softbank, Dragoneer, Left Lane, Coatue and Tencent have also participated in the round; Deutsche Telekom is newly on board.
Florian Steinhart, Partner at Herbst Kinsky: “To follow up with a EUR 300 million Series D round half a year after an already impressive EUR 205 million Series C round is enormous and unique in Austrian start-up history. We are all looking forward to the future of GoStudent with excitement. Congratulations to all parties involved.”
GoStudent is a start-up founded in 2016 that operates a learning platform for online tutoring. Tutoring is delivered live in a virtual classroom and booked in a subscription package. Go Student is currently present in around 20 countries with a team of over 1,000 employees and 15,000 tutors. And the expansion plans are far from over.
The Herbst Kinsky team was led on this transaction by partner Florian Steinhart with support from attorney Felix Kernbichler (both M&A/Venture Capital). The latter joined GoStudent as Chief Legal Officer at the beginning of the year.