Unacademy has raised $110 million in Series E round of funding from new investors Facebook and General Atlantic, along with Sequoia India.
Based in Bengaluru, edtech startup, Unacademy declared that it has raised $110 million in Series E round of funding from new investors Facebook and General Atlantic, along with Sequoia India.
The round also witnessed participation from existing investors such as Nexus Venture Partners, Steadview Capital and Blume Ventures. Kalyan Krishnamurthy, CEO of Flipkart and Sujeet Kumar, Co-founder of Udaan also took active participation in this round of funding.
Unacademy stated that it will use the funding to further understand the test preparation categories, serving more exam categories, obtaining top educators, and creating exceptional learning experiences for the learners through productive content and product.
Additionally, while raising the funding, Unacademy also provided exits to some of the angel investors.
Co-founder and CEO, Unacademy, Gaurav Munjal stated that their goal from the first day was to democratize the education system and make quality education easy for all. They act upon it by bringing in the best teachers and the best content in addition to making sure it is reachable to the entire country. They currently have more than 90,000 subscribers.
He also said that their goal is to democratize education and turn into not just the largest educational organisation but the largest consumer internet story out of India.
Unacademy founded in 2015 by Gaurav Munjal, Roman Saini and Hemesh Singh as a platform for educators and learners, with educators creating educational videos and offering Live interactive classes with access to more than 30 exam categories for the learners.
Moreover, the edtech startup presently claims to have more than one million videos on its platform.
Presently, the platform has over 10,000 educators who have made and posted educational videos on Unacademy.
In the year 2019, Unacademy announced its subscription for various examinations which gives access to the learners throughout the country to top educators and structured learning.
70 percent of its users are from Tier II and III cities. More than 700 educators take classes at Unacademy every day.
Furthermore along with the new round of funding, the startup is planning to launch more test prep categories, get more great educators on board and work on making its content the most robust in the industry and aim to be a household name.