DACH region one-on-one tuition class provider Studienkreis has just been acquired by the global online tuition company GoStudent.
Vienna-headquartered GoStudent expects the addition of Studienkreis tutor centres to fuel its adoption of "hybrid learning" strategies, combining its existing virtual learning materials with in-person tuition from the Studienkreis network.
It's the latest in a string of acquisitions for GoStudent following deals earlier in 2022 to buy UK-based Seneca Learning, Spain's Tus Media Group and Fox Education in Austria.
Purchases such as these have led to innovations in GoStudent tuition classes like AI-based learning content, while also growing its pool of teachers and bringing e-learning communications tools into the school classroom.
As well as online one-on-one tutoring, GoStudent has "freemium" learning products with no-fee access tiers and group classes for more than one person. The company has 24 international offices and has raised €591 million to date, from investors including SoftBank, Deutsche Telekom and Tencent.
Studienkreis has been around quite a while, starting out from its German headquarters in 1974 and since proliferating to operate 1,000 tuition centres nationally.
Since 2012, the startup has also been active in the online learning space and has also expanded into Austria, following the acquisition of a local provider there (LernQuadrat) in 2018. A year earlier, the private equity firm IK Partners had acquired Studienkreis.
Felix Ohswald, CEO and co-founder of GoStudent, says his company is carrying out some 1.5 million tutoring sessions every month. "But we believe the future of learning is hybrid," he added. "Combining online and offline creates an omnichannel model which brings maximum value to families and builds a barrier for competitors.”