Berlin based online learning platform Sofatutor has announced the raise of €3 million in its fourth round of financing led by Frog Capital. Other participants include Acton Capital Partners, JCMB Beteiligung, VC Fonds Kreativwirtschaft, and Cornelsen, a school textbook publisher.
Founded in 2009, the Sofatutor platform is used by students from elementary school through to A-levels for gaining learning support through educational content and homework chat. It claims to presently have 14,000 learning and explanatory videos, 41,500 interactive exercises, 30,500 worksheets to download on the platform.
Post the development, the edtech company wants to grow in German speaking countries of Germany, Switzerland and Austria where it claims to have more than 200,000 users. Currently the company employs a permanent staff of about 100.
“With our online learning platform, we were among the first digital education offerings in the German market, and are now one of the leading providers of digital learning materials in German-speaking countries,” said Stephan Bayer, CEO of Sofatutor.
Among the competitors of the German start-up is the Hamburg-based Scoyo, which, however, focuses on classes one to seven. The market is considered to be attractive; there are currently more than eight million students in general education schools in Germany.