Unacademy raises $150 Million in investment round led by SoftBank Vision Fund 2
Bengaluru: Unacademy, India’s leading learning platform, has raised an investment of $150 Million in a round led by SoftBank Vision Fund 2i. Existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners, Facebook, and Blume Ventures also participated in the round.
The latest funding round values Unacademy at $1.45 Billion.
“Learning from the best experts to achieve a life goal has mostly been a privilege, available only to those living in the top few cities of the country. At Unacademy, we are breaking that barrier and helping people achieve their life’s most important goals, by giving them access to the best coaching from experts in the field. We’re delighted to welcome SoftBank as a partner to that vision. We started with test preparation and with this partnership, we will launch other goals on our platform,” said Gaurav Munjal, Co-Founder and CEO, Unacademy.
Unacademy is the largest learning platform in India with a vast network of 18,000+ Educators and over 350,000+ subscribers. The company caters to the learning needs for 35+ competitive exams, besides important life goals such as Chess. Unacademy plans to utilise the funds to launch new products, and build a world-class team and organisation.
“By bringing quality education to a vast network of students for the first time, Unacademy is bridging the privilege gap in India,” said Munish Varma, Managing Partner at SoftBank Investment Advisers. “We are happy to partner them in their journey of helping students from all backgrounds succeed in the future.”
Sumer Juneja, Partner for SoftBank Investment Advisers, added, “We have been closely tracking Unacademy for the last 18 months and have been impressed by their growth, quality of product and consumer engagement. They are truly democratizing education in India and we look forward to helping them scale even further.”
All documents related to the investment have been signed and the final closing is expected in the next few weeks.