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Learning platform Unacademy closed a $50 million Series D funding round from Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures.
Aakrit Vaish (co-founder and CEO, Haptik) and Sujeet Kumar (co-founder and CEO, Udaan) also participated in the round, along with Unacademy founders, Gaurav Munjal and Roman Saini. With this fund raise, Unacademy has raised a total of $88.6 million to date.
“We are seeing unprecedented growth and engagement from learners in smaller towns and cities, and are also very humbled to see that top-quality educators are choosing Unacademy as their primary platform to reach out to students. The funds will be used to onboard more educators, fuel growth across multiple exam categories and build a world-class product and team” said Gaurav Munjal, co-founder and CEO, Unacademy.
Unacademy recently launched its Plus Subscription, and since its launch more than 50,000 learners have subscribed to Unacademy Plus. The Unacademy Plus Subscription is available for more than 20 exam categories and provides students unlimited access to live courses by top educators across the country. Learners get a personalised live learning experience that is augmented by doubt-clearing sessions with the educators, interactive classes and live test series. More than 600 live classes are conducted every day by the educators on Plus, who teach from all across the country.
Founded by Gaurav Munjal, Roman Saini and Hemesh Singh in 2015, Unacademy started as a YouTube channel by Gaurav Munjal in 2010. The platform currently has over 10,000 registered educators and 13 million learners.
The start-up had previously raised a Series C round of $21 million in July 2018 from Sequoia India, SAIF Partners, Nexus Venture Partners, and others. In October 2018, Unacademy acquired Jaipur-based online education and career portal Wifistudy, one of the fastest growing education YouTube channels.
“We are excited to partner with Unacademy in their journey to become the leading education company in India. The company is solving for a big consumer need by enabling millions of students and test prep takers to get access to the best educators in the country,” said Ravi Mehta, Managing Director, Steadview Capital.
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