Unacademy, a Bengaluru-based online learning platform announced it has successfully raised US$150 million at a valuation of $1.45 billion. According to the statement, the round of financing was led by SoftBank’s Vision Fund 2, with participation from existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners, Facebook, and Blume Ventures.
Founded by Gaurav Munjal, Roman Saini, and Hemesh Singh in 2015, Unacademy’s online platform where users can find tutors or intrusion in any topic, skill level, or language. The platform, which now has 30 million registered users, has amassed more than 350,000 paying subscribers.
Unacademy will use the fresh funds to launch new products and expand its team in a bid to enable equitable access to education in India, the statement noted.
Sumer Juneja, Partner for SoftBank Investment Advisers, said, “We have been closely tracking Unacademy for the last 18 months and have been impressed by their growth, quality of the product, and consumer engagement. They are truly democratizing education in India and we look forward to helping them scale even further.”
“Our goal always has been to democratize knowledge and make it more affordable and accessible by getting the best experts in the world to help everyone achieve their goals. We are just getting started,” said Gaurav Munjal, co-founder, and chief executive of Unacademy, in a tweet.