Unicorn alert: Unacademy seeks a billion dollar valuation

Unacademy has seen a particular spurt in revenue and growth in the past year after it started monetising Unacademy Plus.

M. Sriram

July 14, 2020 / 06:19 PM IST

One of the sectors to get a fillip while economies around the globe shutdown overnight due to COVID-19 has been the online learning space. Unacademy is leaving nothing to chance and is now seeking to raise $150 million and finding a spot at the 'Unicorn Club'.

Sources told Moneycontrol, while terms of the deal are in discussion phase, Unacademy could raise over $150 million in this round, making it the latest entrant to India’s unicorn club, or privately held startups seeking a valuation of over a billion dollars.

Unacademy allows educators to create videos for courses from school level learning to college entrance exams across streams, besides for more advanced courses such as civil service exams and MBA entrance tests.

Co-founder and CEO Gaurav Munjal did not respond to an email seeking comment.

Unacademy raised $110 million in February this year led by private equity firm General Atlantic and social media giant Facebook. General Atlantic is also an investor in Byju’s- currently India’s largest online learning firm valued by Tiger Global at about $8 billion.

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Unicorn alert: Unacademy seeks a billion dollar valuation

Unacademy has seen a particular spurt in revenue and growth in the past year after it started monetising Unacademy Plus.

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