Unacademy, a Bengaluru-based edtech startup is reportedly in talks to secure $100 million (approx INR 706 crore) in series E round of funding from General Atlantic and GGV Capital, reported Mint, citing three sources.
Post transaction, the edtech platform Unacademy will be touching a valuation of $400 million, sources revealed.
“Investors are bullish about the company given the subscription’s prospects, which has already become the main revenue driver for the startup, unlike other companies, which depend on advertisement revenue to subsidise their core offering,” said one of the first person of the three people cited above.
The company was initially started as a YouTube channel offering free tutorials. Later in January 2015, the company started offering free learning in lessons on every possible topic in multiple languages.
As per its LinkedIn page, the startup Unacademy allows educators to create videos on its website and app for users 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.
“Education is also a space where parents are also more than willing to pay, making it one of the most monetizable spaces for innovative startups,” said an investor in the space, and the third person cited above.
Unacademy claims to be among a series of mature education sector startups that have emerged in the last few years, backed by some of the country’s most prominent consumer internet investors.