[Funding alert] Unacademy raises $50M Series D funding, founders of Haptik and Udaan also participate
This edtech startup had raised $21 million in its series C round in July last year and the latest investment will be used to fuel its expansion strategy.
Unacademy, the Bengaluru- based edtech startup has raised $50 million in Series D funding round from Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures.
This funding round also saw the participation of other startup founders - Aakrit Vaish (Co-Founder & CEO, Haptik) and Sujeet Kumar (Co-Founder & CEO, Udaan), according to a release. Besides, the founders of Unacademy - Gaurav Munjal and Roman Saini also participated.
Unacademy last raised its series C round of funding in July 2018 amounting to $21 million. Now with this latest infusion, the total funds raised by this startup has touched $88.6 million.
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According to the startup, the investment will be used to onboard more educators, fuel growth across multiple exam categories and build product & team.
On the fund raise, Unacademy co-founder and CEO 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.”
Unacademy was founded by Gaurav Munjal, Roman Saini and Hemesh Singh in 2015. The platform currently has more than 10,000 registered educators and 13 million users. In October 2018, Unacademy acquired Jaipur-based online education and career portal Wifistudy, one of the fastest growing education YouTube channels.
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 educators 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.
Shailendra Singh, Managing Director, Sequoia Capital (India), Singapore, said, “Unacademy is a very meaningful edtech company in the making and Sequoia India is excited to invest significantly in this round.”
The various platforms of Unacademy group include Unacademy, Unacademy Plus, Wifistudy, Chamomile Tea with Toppers, Unacademy Studios and The Solutionists.
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