Unacademy Raises $50 Million in Series D Funding from Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures
By Amit Raja Naik | Thursday, 27 June 2019, 17:09 IST
(L-R) Roman Saini, Gaurav Munjal & Hemesh Singh, Co-Founders
Bengaluru, June 26th, 2019 — Unacademy, India’s largest learning platform, announced the closing of its $50 million Series D funding round from Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures. Aakrit Vaish (Co-Founder & CEO, Haptik) and Sujeet Kumar (Co-Founder, Udaan) also participated in the round, along with Unacademy Founders, Gaurav Munjal and Roman Saini.
Commenting on the fundraise, Co-founder and CEO Unacademy, Gaurav Munjal said, “Our mission has been to provide every learner in the country access to the highest quality of education. 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. In the last few months, we have taken bigger strides toward achieving this mission. We have more than 400 top educators from across the country taking live classes every day on Unacademy Plus. This is available to every student, irrespective of their location. 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 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.
“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.
"Unacademy's ?air for rapid execution and innovation has made working with them a great experience. For example, we were thrilled with how rapidly Gaurav and team converted some of our collective product brainstorming sessions into an amazing live-streaming product and a subscription business for the test prep market. Unacademy is a very meaningful ed-tech company in the making and Sequoia India is excited to invest signi?cantly in this round," said Shailendra Singh, Managing Director, Sequoia Capital (India) Singapore.
Unacademy was founded by Gaurav Munjal, Roman Saini and Hemesh Singh in 2015. The platform empowers educators by making it easy for them to create high-quality educational lessons on the Educator App, that learners access via the Learning App. The platform currently has more than 10,000 registered educators and 13M learners. The company 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 Wi?study, one of the fastest growing education YouTube channels in the world.
Unacademy has the largest distribution for educational videos on its free platform and YouTube and Unacademy lessons have more than 100M monthly views across these platforms. Unacademy’s YouTube channels currently have more than 11M subscribers.