Ukrainian EdTech company GoIT Global has attracted investment from Horizon Capital. The companies did not disclose the details of the deal, but according to information from the parties, it is a $10-15 million check.
In the fund, they are sure that GoIT is a convincing alternative to classical universities. After all, here Ukrainians are helped to master modern professions and get employed in IT to support their families and country. In addition, GoIT has shown sustainability and remained profitable even in recent years.
“As surprising as it may sound, Ukrainian IT is amazingly resilient and many companies are thriving, despite the dual challenge of russian aggression and global tech meltdown. Part of the explanation is that, unlike Western peers, local companies have not been spoiled by the decade long, free-money-induced VC binge, so they had to bootstrap, focusing on sound unit economics and actually turning a profit.”
Vasily Tofan, senior partner of the fund.
Horizon Capital is the most reputable fund that operates in Ukraine and the region. The fund has already proved itself in successful projects, where it helped local leaders to become global. Such as Preply, Ajax, Genesis, Ciklum, Intellias, Miratech, and others.
How GoIT plans to use this investment
Ukrainian GoIT has already expanded into the markets of Poland, Romania, Mexico, Colombia, and the Philippines and has no plans to stop. Therefore, according to co-founder Roman Koritsky, the company will continue to develop its branches there. And they will also test new markets, such as Turkey.
GoIT will also create new educational projects. Together with Woolf, the company is developing the Neoversity program – the first Ukrainian online master’s degree in IT. Another direction is GoITeens, where digital skills are taught to children and teenagers. All this makes modern education available to Ukrainians regardless of their age and background.
The company also plans to improve its learning platform and introduce AI. This will allow teachers to automate routine processes, and students will be able to get instant feedback and learn more efficiently.
5 facts about GoIT
GoIT is a product IT company from the EdTech sphere, which helps people all over the world to learn new IT professions from scratch. The main part of the school’s students are switchers from other fields, who often get their second education here «by calling».
GoIT is a partner of the IT Ukraine Association. In 2022, the company took part in IT Generation – a project of the Ministry of Digital Economy for free training of Ukrainians. And according to its results, it showed the highest percentage of employed graduates among 22 schools participating in the project.
GoIT has developed its own LMS – a platform for online learning. It works in the browser and in the form of applications for iOS and Android. In March, GoIT LMS entered Product Hunt, an international platform for startups, and won three awards.
In April, GoIT launched Neoversity – Ukraine’s first online master’s degree in IT with international certification. Its students study Software engineering, Data science, and Cybersecurity and receive a diploma that is recognized in more than 50 countries.
GoIT cooperates with major charity foundations (“Tyho”, “Kolo”) and supports social projects. Since the beginning of Russia’s full-scale invasion of Ukraine, the GoIT team and students have donated more than 10 million hryvnias to the military.
