Innova Capital has announced the acquisition of a majority stake in Tutore Group, Poland's largest private education platform operating under the eTutor, ProfiLingua, and Tutore brands. The deal also included the acquisition of two companies – International Language Institute (ILI) and ESL Brains. Innova Capital shared the details with AIN via press release.
About Tutore Group
- Founded in 2017, Tutore Group is the leader of the Polish private education services for children and adults. The company provides a language-learning platform and app – eTutor, a network of language-learning schools – ProfiLingua, and a subscription platform of educational materials for teachers – ESL Brains.
- In total, these platforms cooperate with more than 2,000 teachers and, according to the company, has 355,000 active learners and over 2,300 B2B customers within over 60 courses. Tutore has its own R&D office and IT departments, developing unique technologies in the field of education in combination with traditional education delivery models.
Investment details
Polish VC firm Innova Capital, along with the Luxembourg-based fund CirCap, invested in the company aiming to grow Tutore both in the Polish market and abroad. The investments were made under the recently closed Innova/7 fund.
Tutore wants to direct the fresh capital to strengthen the synergies between its brands, and further invest in the implementation of modern technologies and tools based on AI. One of these is the development of a “virtual teacher” that will support the work of trainers and tutors as well as the students’ progress. Radosław Korczynski, Board Member for Technology and Product Development at Tutore Poland, believes that AI solutions “will transform the education market in Poland and beyond”.
“We see great potential for further expansion of the group, both organically and through subsequent acquisitions. We also intend to support the company in technology investment to maintain its edge in the rapidly changing education market,” Andrzej Pietrzak, Partner at Innova Capital, commented.
Together, the companies plan to further expand the group's reach and offerings, providing high-quality learning and skill development solutions for children and adults, including services for individuals and companies.