Unacademy, a Bengaluru based education content platform is in talks with existing and new investors to raise $30-35 million.
Unacademy has seen an edged increase in user traffic which makes it an attractive asset for investors which are looking for content or education technology start-ups. It also plans to expand its international footprint. Unacademy had raised $11.5 million from Sequoia and SAIF at a valuation of around $40-50 million.
Unacademy was founded by Gaurav Munjal, Roman Saini, Hemesh Singh and Sachin Gupta and has over 50 employees on its rolls. Besides Sequoia, Nexus and SAIF, the unacademy’s investors include Flipkart, Freecharge, Paytm, Blume Ventures and Tracxn Labs.
A person mentioned that the talks began roughly about a month back and right now, a deal is still a few weeks away. Unacademy has enough cash in the bank right now, so they are not desperate to raise money quickly and are in a position to set their own terms.
Other education platforms like Byju’s have also attracted investor interest. Unacademy was incorporated as a separate entity. Unacademy, since its launch has built a platform for educators from various domains to create multimedia courses that are published on its app and website. Unacademy now has at least 4,000 educators on its platform and a collection of over 50,000 online video lessons.
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