Bengaluru-based edtech startup Unacademy has raised an amount of $21 Mn which is roughly Rs 21 crore in Indian currency in Series C funding from some of the leading investors, Sequoia India, SAIF Partners, and Nexus Venture Partners. Some of the existing investors also participated in the round such as Blume Ventures. Unacademy is an online learning platform that empowers educators to create courses on various subjects.
Unacademy plans to use the funding to onboard new educators on the platform, by simply penetrate deeper into categories which includes courses for pre-medical, GATE, and CAT, and further strengthen its core product and technology team.
In may the company also raise $25-30 Mn in a funding round which is led by Sequoia Capital India and other investors at a valuation of around $100 Mn.
Gaurav Munjal, who is an IITian, co-founder and CEO, Unacademy, said, “Right from the outset, we have focused on growing the platform by empowering the best educators. We have grown tremendously since our inception. Just last month, more than 3,000 educators were active on the platform and lessons created by them were watched more than 40 Mn times by learners.”
Unacademy was founded by Gaurav Munjal who is the ex-founder and CEO of Flatchat along with Roman Saini, Hemesh Singh, and Sachin Gupta. It was initially launched as an educational YouTube channel in the year 2011 and then as a free learning platform named Unacademy in January 2016.
As of now, the company has raised a total funding of $38.6 Mn till date, Unacademy currently has 300,000 lessons, 3 Mn registered users and 14,000 educators and expanding more on a daily basis.
Unacademy, which is the India’s largest education platform, are changing the way of learning. In a span of 6 months, over 300,000 students have benefited from over 2,400 online lessons and specialised courses on cracking various competitive examinations, on our platform. The company have on board some of the top educators in the country, which also includes Kiran Bedi, India’s first woman IPS officer and now the Governor of Pondicherry.