Check out the 20-slide pitch deck education startup StudySmarter used to raise $30 million as the sector booms
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Check out the 20-slide pitch deck education startup StudySmarter used to raise $30 million as the sector booms
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German edtech StudySmarter just doubled its Series A funding round to $31 million.
The extension comes after the firm secured an intro with investment firm Goodwater Capital.
Insider got an exclusive look at the pitch deck StudySmarter used to bring investors on board.
German edtech startup StudySmarter has doubled the size of its latest funding round to $31 million thanks to a late investment from Goodwater Capital, an early backer of tech giants Facebook and Spotify.
The online learning platform, which helps students develop study plans, create flashcards, and access publishers’ content, has thrived in Germany, Australia, and Switzerland since it was founded in 2017. The Munich-based firm has accrued more than 3 million users, and signed a deal to produce educational content for publishing giant Pearson.
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StudySmarter aims to become a central hub for all learning content and targets students across a variety of levels from K-12 to higher education and corporate learning. The startup makes money by matching students with potential employers based on user data and offering a premium tier with extra features and content.
Investment in the edtech sector has surged since the pandemic shuttered classrooms and lecture halls across the world. VCs pumped $13.3 billion into the sector in 2020, surpassing the previous record set in 2018 by nearly 50%, according to figures from PitchBook.
Having already secured $15 million back in April, StudySmarter more than doubled its Series A to $31 million, after existing backer Owl Ventures introduced the founders to Goodwater, which has also backed Twitter and grocery delivery firm Getir.
Alongside Goodwater and Owl Ventures, StudySmarter has also been backed by Left Lane Ventures, and Lars Fjeldsoe-Nielsen, a former Uber VP and ex-partner at Balderton Capital.
Insider got an exclusive look at the pitch deck Studysmarter used to bring investors on board. Check it out below:
