Amritsar, NFAPost: As online learning surges amid restrictions in opening educational institutions as a result of Covid-19 pandemic, investors continue to invest in edtech startups. In one such fresh round of funding led by SoftBank, Unacademy has raised $150 million boosting its valuation to $1.45 billion, a three-fold jump from $510 million in February.
Existing investors Facebook, General Atlantic, Sequoia Capital India, Nexus Venture Partners and Blume Ventures also participated in this funding round.
Gaurav Munjal-led startup has now become the second edtech startup after Byju’s to surpass $1 billion in valuation and enter the coveted club of unicorns.
During this year, Unacademy has acquired notable startups PrepLadder, Mastree, and CodeChef and has also launched a new product Graphy under a separate founding team.
The Bengaluru-based startup, which now has over 30 million registered users, and 350,000 paid subscribers, has over 18,000 registered educators on its platform.
Unacademy offers test preparation classes to students taking everything from civil service and banking exams to programming languages.
The platform charges around $20-$150 a month for test prep.
