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Unacademy intends to use the proceeds to launch more test preparation categories, obtain top educators, and create enhanced learning experiences for the learners through great product and content
FREMONT, CA: Unacademy, a Bengaluru, India-based learning platform provider, raised $110M in Series E round of financing. The funding round witnessed participation from new investors Facebook and General Atlantic, along with Sequoia India, Steadview Capital, Nexus Venture Partners, and Blume Ventures. Kalyan Krishnamurthy, CEO of Flipkart and Sujeet Kumar, co-founder of Udaan, also participated in this Series E funding round. Unacademy also provided exits to some of its angel investors.
[vendor_logo_first]"Our mission from day one has been to make high quality education affordable and accessible to everyone. There are more than 800 educators who teach live on Unacademy everyday with hundreds of thousands of learners attending these classes from their smartphones. We have also heavily invested in making high quality free classes available on YouTube and our own platform where we see more than 150M video views every month. Our goal is to not just become the largest education organization but to be the biggest consumer internet organization in India," tweeted Gaurav Munjal, Co-founder and CEO of Unacademy.
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Founded in 2010, Unacademy intends to use the capital to launch more test preparation categories, obtain top educators, and create enhanced learning experiences for the learners through great product and content.
This education technology platform brings expert educators together with millions of students seeking quality education via brands such as Wifistudy, Unacademy, Unacademy Subscription, Chamomile Tea with Toppers, Let's Crack It. The company's network currently accommodates over 10,000 registered educators creating videos and offering live interactive classes with access to more than 30 exam categories for the learners. Unacademy now has over 1 million videos on its platform. The company last year launched its subscription for various examinations. The subscription allows learners to access to top educators and structured learning throughout the country. The startup claims to have over 90,000 active subscribers.
Ajit Mohan, Vice President and Managing Director, Facebook India, said, "Facebook is an ally for India's economic growth and social development, and we are excited about India and its rapidly rising internet ecosystem. With this investment in Unacademy, we are reinforcing our commitment to the Indian startup ecosystem as well as investing in a company that is transforming learning in India. We love that the company is fundamentally democratizing education and driving innovation in new learning models."
Untill the Series E round of financing, Unacademy has raised a total of $88.6 million from investors, including Nexus Venture Partners, Blume Ventures, Sequoia India, and Steadview Capital.
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