Unacademy Reaches Unicorn Status After $150 Million SoftBank Investment
Indian online learning platform Unacademy raises $150 million in a Series F round led by SoftBank, reaching a $1.45 billion valuation. The startup now boasts 30 million registered users and over 350,000 paying subscribers.
Indian online learning platform Unacademy raises $150 million in a Series F financing round led by SoftBank's Vision Fund 2, pushing its post-money valuation to $1.45 billion. Existing investors including Facebook, Sequoia Capital, and General Atlantic also participate in the round, bringing the four-and-a-half-year-old startup's total raised capital to roughly $350 million.
The Bangalore-based startup helps students prepare for competitive exams through live classes and detailed review sessions on its app. Unacademy currently serves 30 million registered users and counts over 350,000 paid subscribers for its comprehensive subscription service, which offers unlimited access to all live classes.
This massive valuation increase from $400 million in February reflects a broader surge in digital education usage across India prompted by nationwide school closures during the coronavirus pandemic. The funding solidifies Unacademy's position as a major player in the booming Indian edtech market alongside its heavily funded rival, Byju's.