Unacademy raises $50 mn from Steadview Capital, Sequoia India and others

Bengaluru-based online learning platform Unacademy Wednesday said it has closed a USD 50 million (about Rs 345 crore) funding round from Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures.

The series D round also saw participation from Aakrit Vaish (Haptik co-founder and CEO) and Sujeet Kumar (co-Founder, Udaan) along with Unacademy founders Gaurav Munjal and Roman Saini, a statement said.

The investment will be used to onboard more educators, fuel growth across multiple exam categories and build a world-class product and team, it added.

"We are seeing unprecedented growth and engagement from learners in smaller towns and cities...We have more than 400 top educators from across the country taking live classes every day on Unacademy Plus...

"By leveraging technology and high-quality educators, we aim to move closer to our mission of democratising education at all levels, starting with test prep," Unacademy co-founder and CEO Gaurav Munjal said.

Unacademy, which recently launched its Plus Subscription, said over 50,000 learners have subscribed to the programme.

Unacademy was founded by Munjal, Saini and Hemesh Singh in 2015. It currently has more than 10,000 registered educators and 13 million learners.

The company had previously raised USD 21 million in July 2018 from Sequoia India, SAIF Partners, Nexus Venture Partners, and others.

In October 2018, Unacademy had acquired Jaipur-based online education and career portal Wi?study. Unacademy's YouTube channels currently have more than 11 million subscribers.