Unacademy bags $11.5 million Series B funding from SAIF and Sequoia

Unacademy, a Bengaluru-based online education platform has today raised Series B round of funding worth $11.5 million led by Sequoia India and SAIF Partners.

Existing investors of the company — Nexus Venture Partners and Blume Ventures have also participated in the round. This marks the second round of funding raised by Unacademy this year.

Earlier, in January, the startup had raised $4.5 million led by Nexus Venture Partners and Blume Ventures in order to grow its educators’ base. The total amount raised by the startup so far stands at $17.5 million.

The startup aims to utilise the latest funding to accelerate technology growth and on content development. It is already operating in India, Indonesia and Brazil.

The funding will also be used by the company to expand content on personality development, job interviews, and offer content in new languages.

Gaurav Munjal, Co-founder and CEO, Unacademy says,

With this round of funding, we want to scale our technology to ensure that we build a global technology product. On the content side, we intend to onboard over 1,000 eductators. We primarily have test prep content, the capital will be helpful in seeding content across different forms of learning.

Shailendra Singh, Managing Director, Sequoia Capital (India), said in a release,

Sequoia India is inspired by Unacademy’s vision to create a global platform that enables educators to create content and engage with learners. The missionary team at Unacademy is off to a tremendous start, achieving rapid early adoption and Sequoia is thrilled to be a part of their journey.

Unacademy was founded in 2010 by Gaurav Munjal, Roman Saini, Hemesh Singh and Sachin Gupta, and today also has a mobile application.

Just within one year, the company claims to have grown over ten-fold, and had over five million video views from the website and the YouTube channel. The team claims to have over 50,000 lessons online, and over a million registered users.