Edtech startup Unacademy will use the funding to get onboard more educators, fuel growth across multiple exam categories and build a world-class product and team. (Photographer: Anindito Mukherjee/Bloomberg)

Unacademy Raises $50 Million From Steadview, Sequoia India And Others

Unacademy has closed a $50 million (about Rs 345 crore) funding round that saw participation of investors including Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures, the Bengaluru-based edtech startup said on Wednesday.

The Series D funding round also saw participation of Haptik co-founder Aakrit Vaish, Udaan co-founder Sujeet Kumar, along with Unacademy founders Gaurav Munjal and Roman Saini, a statement said.

Unacademy will use the funding to get onboard more educators, fuel growth across multiple exam categories and build a world-class product and team, the edtech startup said in the statement.

"By leveraging technology and high-quality educators, we aim to move closer to our mission of democratising education at all levels, starting with test prep," Unacademy Chief Executive Officer Gaurav Munjal said.

Unacademy was founded by Munjal, Saini and Hemesh Singh in 2015. It currently has more than 10,000 registered educators and 13 million learners.

The company had previously raised $21 million in July 2018 from Sequoia India, SAIF Partners, Nexus Venture Partners and others.

In October 2018, Unacademy acquired Jaipur-based online education and career portal Wifistudy. Its YouTube channels currently have more than 11 million subscribers.

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