Acton et al. invest in sofatutor

IBB invested via its VC Fonds Kreativwirtschaft Berlin. Lead investor Cornelsen is a German publisher of school books.

The fresh capital will be used to consolidate the company's position in the DACH region and to develop new products.

Online education platforms have been the subject of increasing private equity investment recently, including Reed Elsevier's $10m series-B funding for sofatutor's fellow Berlin-based online language learning platform Babbel.

Previous funding
The Berlin-based online learning platform sofatutor first raised less than €1m in January 2010 from IBB and JCMB, before a second funding round in September 2012 from Acton raised around €5m, according to unquote" data.

Company
Founded in 2009, sofatutor is an online tutoring platform providing video content to facilitate learning for all school year groups. More than 11,000 5-10 minute videos are available, accompanied by interactive quizzes and a daily chat with experts. A personal tutor also provides a weekly online learning session.

With more than 75,000 users in German-speaking countries, sofatutor employs 100 people.

People
Stephan Bayer is founder and managing director of sofatutor. Alexander Bob is managing director of Cornelsen.

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• Topics
• DACH
• Expansion
• Technology
• Germany