Online learning platform Unacademy has raised $11.5 million (Rs 73 crore) in a Series B round led by Sequoia Capital India and SAIF Partners, the company said in a statement on Wednesday. The round also saw participation from its existing investors Nexus Venture Partners and Blume Ventures.
Unacademy plans to use the funds raised to improve its product and technology as well as scale other categories including personality development, new languages and job interviews. It also plans to produce its own knowledge based content with educators on the platform.
“Our vision is to build the world’s largest online knowledge repository by empowering great educators,” said Unacademy CEO and co-founder Gaurav Munjal.
The platform allows educators from the world to create various courses on different subjects, including exclusive content. It claims to have 50,000+ lessons online and over 1 million registered users.
“Unacademy democratises access to personalised learning by connecting educators and students directly on its platform,” Alok Goel, managing director of SAIF Partners, said.
Unacademy competes with rival BYJU’s which raised an undisclosed amount of funding from Tencent Holdings Ltd. in July.
For Sequoia India, Unacademy is the firm’s third bet in the online education technology space, having previously backed Byju’s and math tuition platform Cuemath.
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