We haven’t heard from Sofatutor in a long old time. In 2012 they raised a ‘low million euro’ round from Acton Capital Partners, with existing investors. But their paid-for tuition service, which they’ve stuck to rigidly since they started, seems to attract investors.
Today they’ve raised a third funding round to strengthen the company’s position in the German-speaking market (Germany, Austria and Switzerland) where the online video and ed-tech business is focused.
The €3.5 million round is led by the school book publishing company Cornelsen and includes existing investors Acton Capital Partners, J.C.M.B. and IBB Beteiligungsgesellschaft.
The funds will be used in three areas: product development, content creation and marketing.
Sofatutor offers learning materials for all grades of school and has over 75,000 users watching its 11,000 videos. Its subscriptions start from 14,95 Euros per month and it has 100 full-time employees.
In the German-speaking market there is also bettermarks.com (financed by Holtzbrinck and others) taking a more vertical approach by focusing on interactive tests in mathematics for grades 5-10 only. And there is scoyo.com (built by Bertelsmann, sold to Super RTL), a game for children in elementary school. Tutoria.de (a Holtzbrinck company) offers 1:1-tutoring.