Felix Ohswald of GoStudent: How We Overcame Near-Default and Scaled to Europe's First EdTech Unicorn

As a part of our series called “My Life as a TwentySomething Founder”, I had the pleasure of interviewing Felix Ohswald.

Felix Ohswald, 26, is the co-founder and CEO of GoStudent, the Vienna-headquartered digital learning platform providing tailored, 1:1, video-based tuition to K12 students. Felix holds two degrees in Mathematics and a master’s degree in Quantitative Finance and is a founding member of the EdTech Founders Club — a community dedicated to supporting individuals within the EdTech space. In June 2021, GoStudent became Europe’s first EdTech unicorn, reaching a valuation of $1.7B.

Thank you so much for joining us in this interview series! What is your “backstory”?

Thank you for having me! I was born in 1995 and grew up in Vienna, Austria. I was always a curious child, and from an early age I loved to learn — particularly with my grandfather, who was a science teacher. He taught me how to think logically through chess lessons, and would always take time to explain the how and the why. He would take mathematical and scientific theory and apply it to real life situations, making the teachings feel tangible and real.

I was also fascinated by how things worked, so as a child I would try to analyze each game so that I could master it. I wanted to understand everything so, while other kids were enjoying the game, I was trying to break it down and learn from it. I took a similar approach to my academic studies and excelled at math. At the age of 14 I was sent to university early, to complete a Mathematics degree alongside my wider school studies. When I was 18, I travelled to the UK to study for a second Mathematics degree, at the University of Cambridge, before moving to Switzerland to complete my master’s degree in Quantitative Finance at ETH Zurich.

Many people ask me why I didn’t choose to pursue a career in academia. Education is a huge passion of mine, but it wasn’t the path I wanted to take. My biggest goal is to help every child discover a love for learning that matches my own, and so founding a company that did just that became my focus. As a teacher, I’d not be able to make this dream a reality.

Can you share the funniest or most interesting story that happened to you since you started your company? What lessons or takeaways did you take out of that story?

The first years of GoStudent were quite bumpy because we had to figure out the right business model. Given that we did not have any revenue, we were dependent on external parties financing our efforts. In early 2019 we encountered a situation where an investor backed out of a financing round just one day before signing, and it would have brought us into default because we could not have paid our employees. Thankfully, another party spontaneously stepped in, and we survived, but this experience taught us a valuable lesson in resilience and in not taking anything for granted. It made us stronger and refocused our efforts on finding a sustainable business model.

What do you think makes your company stand out? Can you share a story?

It might first be helpful to quickly summarize the reason for founding GoStudent in the first place. In 2015, whilst I was at university, my younger brother, Moritz, began referring his classmates to me for help with their math homework. I was happy to help, and word spread. I helped them in the same way my grandfather would help me — by making the math problem feel like it mattered, because I’d framed it in a context I knew would resonate. I was quickly surprised by just how many students were reaching out to me. It seemed as though they all lacked support and had lost enthusiasm for the subject. I knew that this was an enormous issue, and I wanted to find a way to solve this fundamental problem. It was then that I contacted my friend and GoStudent’s co-founder and COO, Gregor Müller, and together we discussed how to build technology that could connect children all over the world with the best educators.

What I think makes us stand out is two things: First, that when we first started out, we were a company made by students, for students. I was 21 and finalizing my Masters degree, and Gregor, GoStudent’s co-founder, had just graduated. We understood what it was like to be struggling with study, and knew first-hand the kind of support a student would likely want to receive. We were digital natives, seeking engaging lessons with teachers we connected with. Because we understood this mindset, we were able to visualize the kind of platform that would resonate with students.

Second, we have always dreamed big. We want to become the number one global school, and the future of tutoring. Our goal is to reach as many students as possible by providing them with access to the very best educator for them. Because we are always looking to the future, to how we can grow and adapt in order to offer the very best service to students, we stand out. In just five years we have opened 17 offices, are available in 21 markets and we employ more than 800 fantastic talents, as well as working with more than 7,000 inspiring tutors. We are not afraid to explore new territories, because our biggest goal is to support every learner that seeks us out.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?

My biggest cheerleader, and the person that got me to where I am today, is my grandfather. He is the person that first saw my potential and understood how to nurture my analytical brain. He spent years teaching me to think logically and deeply, and it is because of him that I have been able to think ahead in the business world. Founding a startup isn’t easy, it takes a lot of courage to try something new, and to ensure that your voice is heard — particularly when you are in your early 20s, with no prior experience.

My grandfather taught me two invaluable lessons: he showed me how to consider every option — eliminating risk and working out the best possible result — and he gave me the confidence to believe in myself and my abilities. These combined prepared me to be able to make the right decisions as GoStudent grew.

Are you working on any exciting projects now?

Yes! With consent from our participants, we have been using intelligent emotion tracking tools to measure 32 points on the face in order to analyze emotions in students and tutors, during lessons. Our goal is to better understand which emotions are most common in the classroom, how they correlate between different tutor and student pairings, and to understand which emotional connections are most beneficial for a successful and mutually productive learning environment.

Our ultimate aim is to use this data to improve our overall offering and, perhaps in time, to help improve the education sector more broadly. At GoStudent, our selection criteria for tutor applicants is very strict. With the knowledge gained, we can make the tutor selection process even more accurate. Further, we can use these findings for training purposes, to help our tutors increase their emotional intelligence and better understand the role that emotions play in the learning process.

We are aware that currently, daily interactions with tutors and students show that they can often only distinguish between “happy” and “unhappy” on a subjective level. The use of AI helps us to look at emotions in a more measurable way. As we learn more about the diversity of emotions and their dimensions, we will one day be able to identify which distribution or combination of emotions are most likely to lead to long-term academic success.

How have you used your success to bring goodness to the world?

We are still a very young company and for us, success, or goodness in the world, comes in the form of the students that we are working hard to support. Success is found in every child that has an improved grade, a greater understanding, a renewed passion for learning, a new love of a certain subject or increased confidence, thanks to the skill of our tutors, and the dedication of our teams that work hard to match each learner with the right tutor for them.

GoStudent exists to encourage and support future talents, and to empower the fantastic teachers of now, and of the future. However, we also dream of shaping the future of education, and proving the efficacy of tailoring the student-tutor match, based on learning style, teacher proficiency, personality match and enthusiasm. We want to share our learnings, so that future generations can be given the very best start.

Do you have a favorite book that made a deep impact on your life? Can you share a story?

My father read to me a lot when I was a little child, and many of these stories, from Harry Potter, to Tintenherz (Inkheart) and Herr der Diebe (The Thief Lord), to TKKG had a long-lasting effect on me and my education. When you immerse yourself in these stories, it puts your mind into a different world and shows you that there are endless possibilities. The older we become, the more often we forget that this is the case, and that we can think laterally and creatively. I believe that, as adults, it is so important to take time to think outside of the realms of practicality when faced with a problem, as this allows us to explore our options more thoroughly.

Can you share 5 of the most difficult and most rewarding parts of being a “TwentySomething founder”. Please share an example or story for each

1. The company becomes your life, and you need to learn how to manage that situation — While there has never been a point in my career at GoStudent where I’ve wanted to give up, there have been some moments where the pressure has been very great. There were times when we didn’t know whether there would be enough money in the account at the end of the month to pay the staff. There were, and still are, some sleepless nights. You realize when you dream about a problem that it has taken over your life, and it is important to use this realization as a moment to take a step back and work out logically how you are going to move forward. What I am very proud of is that Gregor and I always approach difficulties with a cool head, regardless of the pressure we might be under, and we have learned not to let it consume us. As a founder of any age, if you are passionate about what you do, and about doing it to the very best of your abilities, the company is going to be on your mind 24/7 — the key is not to let it take over.
2. It takes time to build your credibility — Even if you have the best idea in the world, it is going to take time to convince others of that fact. Almost every founder will have encountered someone that says no to them — most will have encountered quite a few! Unfortunately, when you are young, you might face more noes than someone with a decade more experience. You must have a thick skin and courage in your convictions. Mentally prepare yourself for setbacks and work out your responses in advance of being pressed for information. Being able to preempt criticism and ready to counter it with valuable insight will prove that you are well informed and serious about your venture. Overcoming challenges early on will stand you in good stead for the future and help to build your reputation.
3. You, and you alone, are responsible for scaling your business — Your investors are there to support you, yes; however, they are not there to tell you how to take your company to the next level. They can, and do, support in many, many ways, but it is vital to remember that ultimately your investors have placed their trust in you because they believe that your existing team can execute the operational aspects of a business successfully — and scaling is a huge part of this. Founders should not expect operational support from potential or existing investors. However, investors can assist you by building up a valuable network for you, and by connecting you with companies that you can exchange know-how and best practices with.
4. Your team is your tribe, and you make lifelong friends — When you are building a company, and working towards one shared vision, you share something very special with those around you. Your team becomes your tribe, and together you feel as though you can take on anything, so long as you have the support of each other. I am very proud of our GoStudent company culture, and I want to make sure that it is lived in all of our current and future offices. I have experienced something so special, and I want to ensure others experience it too. GoStudent is a scale up now — we are a team of 800 and have achieved unicorn status; however, at heart we are still very much that same team of driven, passionate, excited individuals, looking to shape the future of tutoring. It is important for us to keep the start-up vibe no matter how fast we grow. I want to enable my team to have bold ideas, to make fast decisions and to execute without complications and politics. Our GoStudent fundamentals are “Be bold”, “Be fast or be last”, “Be productive as f*ck”, “Work hard, play hard” and “In GoStudent we trust”. You can feel the entire team living these values when you enter the office.
5. You are going to grow up with your startup — One of the biggest advantages of being a twenty-something founder is that you are truly going to mature alongside your startup. You are going to celebrate every victory, learn from every mistake, and find inspiration in every conversation you have. You will evolve together, and you are going to be so proud of what your company has accomplished. When you are young, you might take bigger risks, and this can sometimes pay off. Equally, if you don’t succeed, you have the time to learn and grow. Being a young founder can be incredibly difficult, but it is one of the most rewarding and enjoyable learning experiences I can think of, and I encourage every person with a strong idea, and a belief that they can execute it, to explore what making that business dream become a reality would look like.

What are the main takeaways that you would advise a twenty year old who is looking to found a business?

My absolute best advice is to spend time building your network. For someone who has not founded a company before, making connections can be difficult. Leverage your colleagues, friends, and family — ask for as many introductions as possible and don’t be afraid to sell yourself. This way you will often be connected with someone that makes private investments or is involved in an investment firm. This gives a running start when it comes to financing your idea, as they will already know of you and understand what you are trying to achieve.

When connecting with an investor, you need to be clear what your mission is. What is it that you are looking to change or address? What are the real-world implications of your product or service? How is it scalable? You need to prove that you believe in your company and that you have a clear understanding of the market and how your company will grow. Then, once you have secured interest, Create FOMO! It sounds very basic, but only if you manage to create buzz around your fundraising campaign and your expected closing date, will you be able to close it fast.

My final piece of advice is to hire awesome people. Having a strong team around you is paramount, and investors will value their experience, passion, and talent. Equally important is ensuring that these hires embody the company culture and ethos that you are looking to maintain. A strong culture and good atmosphere will help you to attract and retain the best talent, which is essential when building a startup.

We are very blessed that some of the biggest names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US whom you would love to have a private breakfast or lunch with, and why? He or she might see this. :-)

As I think I’ve said before, I’d love to meet Elon Musk. I am fascinated by people who are absolutely at the top of their game, or that set new standards. I’d want to hear his thoughts on what the big problems of today and tomorrow are, and talk to him about how he thinks technology and innovation could be used to solve them.

What is the best way our readers can follow you on social media?

You can keep up with all that is happening at GoStudent via our social channels. We share key business news on LinkedIn, and Instagram. You can keep up with me on LinkedIn, too — feel free to connect.

This was very inspiring. Thank you so much for joining us!