Facebook, General Atlantic back Unacademy

Marco Green
February 21, 2020

Kalyan Krishnamurthy, CEO of Flipkart, and Sujeet Kumar, co-founder of Udaan, also participated in this round.

With this round, Unacademy has given exits to some of its angel investors.

The new edtech company said it would use the funds to further penetrate exam preparation categories, launch more exam categories, acquire the best educators and create exceptional learning experiences for students through great content and product.

"Our goal from day one has been to democratise education and make quality education accessible to everyone".

Making its second bet in the Indian start-up space, social networking giant Facebook has participated in a $110 million investment round in edtech enterprise Unacademy.

Education technology startup Unacademy has raised $110 million from social networking giant Facebook and U.S. private equity firm General Atlantic, at a post-money valuation of $510 million.

Vedantu and Unacademy compete with Byju's, an Indian startup that has General Atlantic as an investor and is valued at $ 8 billion. "We do so by providing the best educators and content on our platform and ensuring that it is accessible to everyone across the country", he said.

Unacademy, which was founded by Munjal, Saini and Hemesh Singh in 2015, helps educators create educational lessons on the educator app, that learners, in turn, can access via the learning app.

"We are seeing excellent learning results through our subscription, where students can take live classes from these educators". Currently, it has more than 20,000 registered educators and over 18 million learners.

Reports say that Unacademy has over 90,000 active subscribers, who log in to be tutored through livestream by 10,000 educators on its platform. "There are more than 800 Educators who teach live on Unacademy every day with hundreds of thousands of Learners attending these classes from their smartphones", co-founder and chief executive Gaurav Munjal tweeted. Now the platform has over 10,000 educators who have created educational videos on Unacademy.

"Facebook is an ally for India's economic growth and social development, and we are excited about India and its rapidly rising Internet ecosystem", said Ajit Mohan, Vice President and Managing Director, Facebook India.

Experts have said that around 70 percent traffic comes from tier 2 and tier 3 cities, especially because there is a lack of access of top educators.

The company now has a total funding amount of nearly $200 million, according to Crunchbase, and the source for TechCrunch said that the Unacademy is now valued at $400 million.

Other reports by Click Lancashire

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