Unacademy, a familiar name among India’s ed-tech startups has reached a valuation of $3.44 billion, after a recent round of funding in which the ed-tech gathered funds worth $440 million. The Series H financing round was led by Temasek and joined by Mirae Asset, SoftBank Vision Fund 2, General Atlantic, Tiger Global, Zomato’s Deepinder Goyal, and Oyo’s Ritesh Agarwal.
Unacademy is a six-year-old startup based in Bangalore. Last November, the startup was valued at $2 billion. In total, they have collected about $860 million. The startup’s initial platform was YouTube where they shared their online classes. Even now, they use YouTube to broadcast their classes. They offer courses to help students in cracking various entrance exams. Live classes are provided in its app and more detailed classes take place there. The startup has more than 50,000 educators who help them in getting subscriptions in return for a commission. The platform has managed to cover almost 10,000 cities in India with over 6 million monthly active users.
The co-founder and chief executive of Unacademy, Gaurav Munjal, shared that the new funds will be used to enhance its new categories like upskilling, jobs and hiring. The platform faces stiff competition from India’s most valuable startup Byju’s, TAL’s Vedantu, Classplus, and Teachmint. All these startups have benefitted from the closing down of schools and colleges due to the pandemic.