Unacademy, a provider of an online test-prep platform, has raised a whopping $110 million in a Series E round from Facebook, General Atlantic and Sequoia India, with previous investors Nexus Venture Partners, Steadview Capital and Blume Ventures also chipping in. Other investors include Flipkart CEO Kalyan Krishnamurthy and Sujeet Kumar, co-founder of Udaan.
This fundraise gives the Bangalore, India-based company a valuation of over $500 million, Livemint reports. According to Crunchbase, it has now raised close to $200 million in venture capital.
Unacademy first began as a YouTube channel in 2010, before incorporating as a company in 2015. The company says it offers more than 1 million video lessons covering over 30 standardized exams in India, and claims more than 90,000 subscribers. The funding will support its efforts to expand its library of content and attract more educators onto the platform.
This is the second major fundraise for an Indian education company in as many weeks—and one involving General Atlantic. Earlier this month, Byju’s reportedly raised $200 million from the New York-based private equity firm.
