- Unacademy connects educators giving lessons to students through online video.
- This series E round of $100 Million was led by General Atlantic.
- While the amount invested by Facebook isn’t known, it is speculated to put $20 million.
- The round also saw participation from Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures and individual investors Kalyan Krishnamurthy, CEO, Flipkart and Sujeet Kumar, co-founder, Udaan.
- Some of angel investors will see exit after this round.
- This will put unacademy at a valuation of $400- $500 Million.
- Till now Unacademy has raised a total of $88.6 Mn.
- Unacademy has more than 90000 subscribers with 70%t of its subscribers coming from tier-2 and tier-3 cities.
- Unacademy has over 10,000 educators who have created educational videos on Unacademy.
- It now has more than 1 million videos on its platform in more than 30 exam categories.
- The company has $150 Million video views every month.
- More than 700 educators take classes on Unacademy every day.
- Unacademy has earned Rs 11.66 crore in revenue from operations. It made a loss of about Rs 90.27 crore in the last fiscal.
- Currently the company is doing $30 million ARR business.
- It's competitor is BYJU’s is valued at $8.2 billion. Surprisingly, Chan Zuckerberg Initiative has also invested in Byju's.
"We thank General Atlantic and Facebook who have joined us in this journey and our existing investors who continue to be a part of the journey by supporting us. Our goal is to democratise education and become not just the largest educational organisation but the largest consumer Internet story out of India," Gaurav Munjal, Co-Founder and CEO, Unacademy, said in a statement.
"Facebook is an ally for India's economic growth and social development, and we are excited about India and it''s rapidly rising Internet ecosystem," said Ajit Mohan, Vice President and Managing Director, Facebook India.