Online learning platform Unacademy has secured $21 million in a series C funding round. This funding round saw the participation of Sequoia India, SAIF Partners, Nexus Venture Partners and other existing investors as well.
Followed by this funding round, the valuation of the company crossed $100 million. Apart from the above-mentioned investors, Blume Ventures also participated in this round.
Gaurav Munjal, co-founder and CEO of Unacademy, said, “Right from the outset, we have focused on growing the platform by empowering the best educators. We have grown tremendously since our inception, and just last month, more than 3,000 educators were active on the platform and lessons created by them were watched more than 40 million times by learners.”
The company plans to utilize the funds so raised to bring in 10,000 educators on board monthly that presently are 3,000. Also, the other aim is to grow its team and invest extensively in technology. A part of the funds will also be used to strengthen its brand.
Founded in 2015 by Munjal, Roman Saini and Hemesh Singh, the educational technology company is based in Bengaluru. It builds an educational repository by empowering great educators and making it accessible to everyone.
“Sequoia India is thrilled to lead the new round in Unacademy, which is already making a big impact in India’s online learning space,” said Shailendra Singh, managing director of Sequoia Capital (India).
The company had recently raised funds and this funding round comes after a few months that the company has secured a considerable amount of funds. With the emerging online education companies in the recent times, Unacademy seems to be gearing up to expand and grow rapidly.