India-based online education provider Unacademy secured $110m in series E funding today from investors including social media company Facebook.
Growth equity firm General Atlantic led the round, which valued Unacademy at $400m, people familiar with the matter told TechCrunch, adding that the corporate contributed less than $20m of the total. It included Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures.
Unacademy operates a platform that helps students prepare for college and university entrance exams with online courses and live lectures. It has now raised approximately $199m since being founded in 2015.
The company received $50m in a June 2019 series D round co-led by Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures that included co-founders Gaurav Munjal and Roman Saini.
Sequoia India, SAIF Partners and Nexus Venture Partners co-led Unacademy’s $21m series C round in July 2018, with participation from Blume Ventures.
Unacademy raised $11.5m in a September 2017 series B round co-led by Sequoia and SAIF Partners that also featured Nexus and Blume, eight months after private investors Girish Mathrubootham and Ananth Narayanan joined Stanford Angels for a $4.5m series A round.
Blume Ventures had led a $1m seed round for the company that included Stanford Angels, WaterBridge Ventures, Tracxn Labs and assorted private investors in August 2016. It also led a $500,000 angel round in May 2016 with contributions from several angel investors.
