Unacademy gets US$300 million from Facebook, Seqouia and others
Indian edtech startup Unacademy has successfully closed its Series E financing round. The company has secured US$110 million in funding.
The group of investors includes Facebook, Sequoia and General Atlantic. CEO of Flipkart, co-founder of Udaan and other individual investors also took part in the round. The company has stated, that it will use its new resources to get more top-quality educators, boost its content production and enhance learning experience. The company also provided sucessfull exits for some of its earlier investors.
Unacademy has launched in 2015 as a platform for creative educational videos. Now the company has over 10 000 educators who at this point have created over a million of videos. Students can learn new skills, prepare for exams etc. There are also live streaming and interactive lessons available.
The service has over 90 000 paying subscribers. Over 700 teachers have their classes daily. Now Unacademy plans to reach US$300 million revenue.