Edtech firm Unacademy eyeing IPO in next few years, says co-founder

Edtech firm Unacademy expects to go public in the next couple of years and is looking to make its core business of test preparation profitable in the next 12 months, a top company official said on Friday.

Unacademy Group co-founder and CEO Gaurav Munjal also said the company is looking to expand its Relevel division -- which is a test platform for private jobs -- to global markets.

"In the next couple of years, we want to do an IPO," he said on the sidelines of launching the company's first experiential centre, Unacademy Store, here.

He said the company is looking to make its core business of test prep profitable in the next 12 months.

"In the next 12 months, we are eyeing profitability in our core business, which is the test prep business. We are on track to achieve it. We have started working towards it. In the next 12 months our test prep business will be profitable.

"Relevel is something that we want to build in India and globally. We will continue to invest in the expansion and growth of Relevel. This is the broader strategy," Munjal said.

The company plans to double down on more distribution channels for the test prep business. He also said the company's business has grown by about 60 per cent year-to-date.

"We are 60 per cent up without opening these stores. Last year also we grew by 60 per cent. This is just the right time when people are embracing online education. When we will go for an IPO, we will have a multi-product strategy," Munjal said.

He added that the PrepLadder vertical of the company has been profitable since the last three months.

Valued at USD 3.44 billion, Unacademy claims to have 7.7 lakh active subscribers.

Talking about Unacademy Stores, Munjal said the company is planning to open the centres in three more cities -- Kota, Jaipur and Lucknow -- and further expansion will depend on the response of students.

He said the centre will not function as learning centres but will help students and their parents learn about online education and facilities provided by Unacademy.