New Delhi [India], July 17: Online learning platform, Unacademy, announced the closing of its USD 21 million Series C funding round from Sequoia India, SAIF Partners, and Nexus Venture Partners.
The funds raised will be utilised to onboard new educators on the platform, penetrate deeper in categories including pre-medical, GATE and CAT, and further strengthen the core product and technology team.
“Right from the outset, we have focused on growing the platform by empowering the best educators. We have grown tremendously since our inception, and just last month, more than 3000 educators were active on the platform and lessons created by them were watched more than 40 million times by learners. We will utilise these funds to invest heavily in our product and technology to make Unacademy one of the best global internet products out of India,” said Gaurav Munjal, Co-Founder and CEO, Unacademy.
Founded in 2015, the platform empowers educators by making it easy for them to create high quality educational lessons on the Educator App that learners access via the Learning App.
In October last year, Unacademy launched ‘Plus’ courses on its platform with a private discussion forum, live video classes, and a personalised classroom learning environment with its top educators. Currently, more than 30 educators take paid ‘Plus’ courses on the platform apart from the lessons that are also available for free.
Since the launch of Plus courses, the company has achieved six-fold growth in its monthly revenue.