India’s largest education platform Unacademy is the edtech startup company based in Bangalore and it had hit $30 million annual recurring revenue (ARR). Started in 2015, it is a platform that offers online education in India. Unacademy educators consist of either students who have cracked various exams or mentors who have teaching experience.
Currently, the edtech startup has more than 20,000 enrolled educators and over 18 million students. Recently, Unacademy Plus has hit $30 million ARR.
Unacademy provides test series, personalised feedback, and personal interactions with educators for various competitive examinations, including Union Public Service Commission (UPSC).
Presently, the startup has around 90,000 active paid subscribers. It aims to make it a million in the next two years and generate 10 times the current revenue.
As per Gaurav Munjal, CEO and Co-Founder of Unacademy, the company is also planning to offer online coaching for state service examinations in different states and subscription would be launched for every examination.
Unacademy has 32 exam services right now. The platform is targeting a total of 72 examination services in the next two years. Last year, it raised $50 million in Series D funding round from Blume Ventures, Steadview Capital, Sequoia India and Nexus Venture Partners.
As per media reports the edtech startup is now valued around $200 million. It is also planning to invest for onboarding more educators and build product and team.
Recently, Unacademy is backed by a technology giant Facebook. It has made its second bet in the Indian start-up space. The social juggernaut has participated in a $110 million investment round.