The funding helps Unacademy’s valuation hit the $3.44B mark. Here are the top-line bullets you need to know.
Unacademy, an EdTech platform, has raised $440M in a Series H. The round drew participation from Temasek, Mirae Asset Management, SoftBank Group, General Atlantic, and Tiger Global Management.
How’s the company performing?
- India-based Unacademy is a digital learning platform that focuses on students preparing for exams or grades 6 through 12.
- Unacademy currently has over 50,000 registered educators and caters to over 62M students by providing learning opportunities in 14 languages.
- In FY20, the business made $12.3M (INR 86CR) in sales but had large expenses of $55.2M (INR 386.7CR), resulting in a total loss of $42M (INR 300CR). However, in the last 18 months, the startup’s worth has soared by a factor of ten.
Why does the market matter?
- The education technology market is projected to grow at a CAGR of 16.1% CAGR and reach $181.3B by 2025, according to Markets and Markets.
- Annual spending on education technology is projected to reach $342B by 2025, according to HolonIQ.
- Increased penetration of digital devices, advantages of technological integration such as smart classrooms, and geographical reach are some of the key enablers of this growth.