Unacademy, one of the leading edtech startups in the country, has entered the unicorn club with SoftBank leading a $150 million funding round, valuing the company at $1.45 billion.
This deal marks the first investment made by SoftBank this year as it had entered a transaction in December last year.
Besides SoftBank, existing investors of Unacademy including General Atlantic, Sequoia India, Nexus Venture Partners, Facebook, and Blume Ventures also participated in the round.
With a network of over 18,000 teachers and subscribers in excess of 350,000, Unacademy said it plans to utilise the funds to launch new products and to hire fresh talent.
In the month of May, Unacademy announced it had recorded a massive growth for the month of April 2020, breaking all its previous records – in terms of revenue, video views, watch time, etc.
The revenue for the month of April 2020 was higher than 2017 and 2018 annual revenues, and the first half of 2019 combined.
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