Unacademy bags $21 Mn Series C round led by Sequoia, SAIF and Nexus VP

Edtech startup Unacademy has raised $21 million Series C round led by Sequoia Capital, Nexus Ventures, SAIF Partners. The round was also participated by its early backer Blume Ventures. Unacademy co-founder and CEO Gaurav Munjal has confirmed the funding through a tweet.

Happy to announce that @unacademy has closed a Series C funding round of 21M$. @RomanSaini @hemezh

— Gaurav Munjal (@gauravmunjal) July 16, 2018

The company claims to have 3,000 educators on its platform whose content were watched over 40 million times. It’s likely to deploy proceeds to expand its reach on both educators as well student sides.

This is the sixth round of funding for the Bengaluru-based startup. With this round, it has amassed $39 million. The company raised $11.5 million Series B round led by Sequoia and SAIF in September last year.

Previously, the firm had raised $4.5 million Series A round led by Nexus VP and Blume Ventures.

Founded by Munjal, Roman Saini, Hemesh Singh and Sachin Gupta as an educational YouTube channel – Unacademy claims to have over 2 million subscribers on its YouTube channel and has a repository of over 50,000 online video lessons.

It helps aspirants across various competitive exams to understand varied topics through videos created by educators.

Last year, Unacademy also started pilots in Brazil and Indonesia. As per video analytics and marketing firm Vidooly, Unacademy is at the number three spot among Indian YouTube channels in the education category.

Earlier this year, Unacademy had launched Unacademy Verified Educators. Like Twitter verified accounts, educators get a verified sign on their profiles, and such educators are also entitled to monetary incentives based on views garnered by their courses.