India edtech startup Unacademy has announced it has raised $11.5M in a Series B round of funding led by Sequoia India and SAIF Partners. Existing investors and angels including Nexus Venture Partners and Blume Ventures also participated in the round.
Unacademy plans to use the newly-raised financing to accelerate product and tech growth. It aims build new categories such as personality development, new languages and job interviews and develop its own content.
“Our vision is to build the world’s largest online knowledge repository by empowering great educators,” said Gaurav Munjal, CEO and co-founder, Unacademy, in an official press release.
“With the backing of Sequoia and SAIF, we are poised to significantly gain momentum and create the first global education technology product out of India. I’m very excited to kickstart this new phase of growth for Unacademy.”
Founded in 2014, the platform currently has more than 50,000 lessons online and over 1 million registered users. It also has 1 million subscribers on its YouTube channel. It plans to onboard more than 10,000 educators across the globe in 18 months.
“Unacademy democratises access to personalised learning by connecting educators and students directly on its platform. We believe it has the potential to disrupt the status quo that limits access to quality education at a global level. With very limited investment, the team has built a strong brand and word-of-mouth reputation,” said Alok Goel, Managing Director, SAIF Partners.
Image Credit: Unacademy