Facebook invests in Edtech Startup Unacademy

Unacademy has named Facebook as an investor in Series E funding round. The company has announced that Facebook and General Atlantic along with Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures have invested in $110 Mn Series E funding round. It has been said that Kalyan Krishnamurthy, CEO, Flipkart and Sujeet Kumar, cofounder, Udaan also participated in this round of funding.

Unacademy will utilise the funding to further penetrate into the test preparation categories, launching more exam categories, acquiring top educators, and creating exceptional learning experiences for the learners through great content and product. In addition to raising the funding, Unacademy also provided exits to some of the angel investors.

Earlier Unacademy has raised a total of $88.6 Mn from investors such as Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures among others.

Founded in 2010 by Gaurav Munjal, Roman Saini, and Hemesh Singh, Unacademy had begun its journey with a free YouTube tutorial to teach students, but in 2015, the company started offering free learning in lessons on every possible topic in multiple languages.

The company has more than 10K registered educators and 13 Mn learners. The company claims to have 100 Mn monthly views across its various platforms such as Unacademy, Unacademy Plus, Wifistudy, Chamomile Tea with Toppers, Unacademy Studios and The Solutionists.

Gaurav Munjal, cofounder and CEO, Unacademy said that the company has more than 90K active subscribers. 70% of their users are from tier 2 and tier 3 cities. More than 700 educators take classes on Unacademy every day. Recently, Munjal had tweeted that the Plus subscription has recorded $30 Mn ARR. With the new round of funding, Unacademy plans to launch more test prep categories, onboard more great educators and work on making its content the best in the industry.