Unacademy Joins Unicorn Club After Raising $150 Million from SoftBank

The edtech startup, Unacademy has raised $150 million in the funding led by SoftBank. This funding has elevated the company's value to $1.45 billion. Along with SoftBank, the company's existing investors Sequoia Capital, General Atlantic, Nexus Venture Partners, Facebook, and Blume Ventures also participated in the funding round.

Gaurav Munjal, Co-Founder & CEO, Unacademy says, “Learning from the best experts to achieve a life goal has mostly been a privilege, available only to those living in the top few cities of the country. At Unacademy, we are breaking that barrier and helping people achieve their life's most important goals by giving them access to the best coaching from experts in the field."

The edtech startup has become a part of the unicorn club of startups. It stands second as the most valued edtech company after Byju's whose value is estimated to be $10.5 billion. Thus, the company is intending to invest the funds to launch new products and to expand the organization.

The startup has raised about $510 million just six months ago. This fundraising is also Softbank's maiden investment in an Indian firm since December. Post the IPO debacle at portfolio firm WeWork, the technology investor, Softbank had slowed down its investments across the globe. Softbank's' other Indian portfolio companies include Oyo, PolicyBazaar, Delhivery, and Paytm.

“By bringing quality education to a vast network of students for the first time, Unacademy is bridging the privilege gap in India," said Munish Varma, Managing Partner at SoftBank Investment Advisers.