Indian edtech startup Unacademy has raised $110 million in a Series E funding round led by Facebook and General Atlantic, with participation from existing investors Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures, as well as individual investors Flipkart CEO Kalyan Krishnamurthy and Udaan co-founder Sujeet Kumar.
After this round, Unacademy is expected to be valued at $500 million.
Founded in 2015, the startup offers exam preparation services to students. More than 90,000 active subscribers are currently learning on its online platform, which has 10,000 educators. Among all learners, 70% come from tier 2 and tier 3 cities of India, according to Gaurav Munjal, cofounder and CEO of Unacademy.
The investment will help Unacademy add more competitive exams and languages, attract top educators and improve the quality of content.
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