As students across the country turned to online education over the last 40 days, edtech firms have witnessed unprecedented growth. Online learning platform Unacademy’s chief executive Gaurav Munjal said on Monday that the firm’s revenue in April was “more than all of 2017, 2018, and the first half of 2019 combined.”
Unacademy claims to have seen an 82% surge in revenue in April when compared to the previous month while also registering more than 10X growth as compared to April 2019.
“This has been a phenomenal month for us and even though we were working remotely, I saw all teams being super productive and efficient,” said Munjal in a tweet. “We broke some records this month.”
According to the company, there were 165 million video views on YouTube in April, which was highest in a month since its inception in 2015. The total watch time of those videos stands at a staggering 1.4 billion minutes across YouTube, special classes, free as well as subscription.
During this period, Unacademy conducted 1,20,000 live classes and 2,64,000 tests on its platforms. As far as the number of tests is concerned, it was a 247% growth as compared to March.
To recall, Unacademy had crossed a watchtime of 1 billion minutes across its platform and YouTube and conducted 100,000 live classes in March.
As per estimates, Unacademy has around 1,00,000 subscribers and likely to have an operating revenue of Rs 120 crore in FY20.
Backed by the likes of Facebook, Steadview, General Atlantic and Sequoia, Unacademy had recently raised $110 million in its Series E round at a valuation of $510 million.
