- Unacademy is valued at $2 billion after its Series E and F fundings
- It was founded in 2015
- It provides 150,000+ online classes monthly all over India
The Indian online learning platform, Unacademy, has added two more eminent investors to its cap table. The company has raised a fresh round of funding from Tiger Global Management and US-based Dragoneer Investment Group. Unacademy hasn’t disclosed the figure yet. But, the e-learning platform confirmed its valuation at $2 billion. The latest funding round is expected to raise between $75 million to $100 million.
Unacademy, the Bangalore-based startup, focuses on K-12 online education. The platform helps students prepare for competitive exams to get into college or those pursuing graduate-level courses. It aims to build an online knowledge repository for multilingual education.
Unacademy provides a platform that connects expert educators with students across cities looking for quality education. Students can watch live classes from educators and engage in review sessions.
The platform has over 47,000 educators, providing online classes in 5,00 cities. The collective watch time across platforms is more than 2 billion minutes per month.
Unacademy’s co-founder stated that their mission was to democratize education and make it accessible. The team has built iconic products that deliver high-quality education to everyone. The company has the opportunity to improve the learning domain through online education as it is easily accessible.
Prior fundraising
Earlier this year, Facebook participated in the startup’s Series E financing round. The startup raised $110 million and added Facebook, General Atlantis, and Sequoia Capital India as its investors.
Other participants included Nexus, Steadview, Blume Ventures, among others.
SoftBank Group led Unacademy’s Series F financing round through its ‘Vision Fund 2.’ Meanwhile, Unacademy’s rival Byju’s, backed by Sequoia Capital India, was valued at $10.5 billion.
With the current restrictions and a nation-wide lockdown, schools, colleges, and other institutions remain shut down. This led to a certain growth in the online education sector. Indian families continue to spend heavily on their children’s education.
Munjal reported that Unacademy had noted a 100% increase in its paid subscribers in the July-September period. The monthly watch time has also touched 1 billion minutes, an all-time high.
