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Unacademy turns into unicorn after SoftBank-led funding round

Valuation jumps 3-fold in last six months to $1.45 billion; becomes the second unicorn in edtech space after Byju's

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In this pic, Gaurav Munjal is standing at the centre while Hemesh Singh is in black jacket (right) and Roman Saini is in grey jacket (left).

4 min read Last Updated : Sep 03 2020 | 12:50 AM IST

Gaurav Munjal's edtech startup Unacademy may have become the latest unicorn in the country, but in his words, it is still Day 1 for the company. The firm, which was launched as a hobby on YouTube, has raised $150 million in a round led by Japanese conglomerate SoftBank valuing it at $1.45 billion, a three-fold jump in just six months. This also makes the Bengaluru-based firm the second unicorn in the country’s edtech space after Byju's.

Existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners, Facebook, and Blume Ventures also participated in the round. Unacademy said, it plans to utilise the funds to launch new products and build a world-class team and organisation.

“Learning from the experts to achieve a life goal has mostly been a privilege, available only to those living in the top few cities of the country. At Unacademy, we are breaking that barrier and helping people achieve their life's most im