Startup Originals Team
Founded in 2015, Unacademy has emerged as one of India’s leading edtech platforms. Started by Gaurav Munjal, Dr. Roman Saini, and Hemesh Singh, the company aimed to make quality education accessible to many. With its focus on competitive exams, live classes, multiple languages, and a freemium model, Unacademy has scaled fast and was valued at about US$510 million in a funding round, reflecting both strong growth and investor confidence.
Founders & Early Years:
- Origins: The roots of Unacademy go back to a YouTube channel started by Gaurav Munjal, where he posted educational videos to help students. In 2015, he formally joined hands with Roman Saini and Hemesh Singh to launch Unacademy as a registered company in Bengaluru.
- Mission: The goal was simple, democratize education. Give students across India access to top educators, test-prep materials, and live teaching, even if they are in remote areas or smaller towns.
Business Model & Offerings:
- Freemium & Subscription: Unacademy provides many free educational videos and resources. For deeper, live, or structured classes, students subscribe to membership plans (e.g. Unacademy Plus).
- Competitive Exam Focus: Initially and even now, much of Unacademy’s content is aimed at competitive exams, UPSC, IIT-JEE, NEET, banking exams, etc. They also offer tests, quizzes, and doubt-clearing sessions.
- Language & Reach: To serve diverse learners, Unacademy delivers content in multiple Indian languages, aiming to reach students in Tier 2 and Tier 3 cities. This inclusivity has been central to its growth.
Funding & Valuation:
- Major Investment Rounds: In early 2020, Unacademy raised US$110 million in a Series E round, with major investors including Facebook and General Atlantic. This raised the company’s valuation to over US$500 million.
- Unicorn Status: Later that year, further funding, including from SoftBank, pushed Unacademy’s valuation higher, making it one of India’s successful edtech unicorns.
Growth, Expansion & Acquisitions:
- Unacademy didn’t stay limited to just one format. It acquired several companies CodeChef, WiFiStudy, PrepLadder, Coursavy, Mastree, etc. to add capabilities in different exam verticals or to strengthen content or tech.
- It also expanded its range of products: live classes, recorded videos, test series, subscription plans, and apps for both learners and educators.
Challenges & Adjustments:
- Unacademy has faced the typical challenges of the edtech sector: high costs of acquiring new students, retention, delivering consistent quality, and dealing with competition from other big players.
- Also, as with many startups, valuation fluctuations have occurred. After its peak valuation, the company has had to optimize operations, reduce losses, sharpen its focus on profitable verticals.
What Sets Unacademy Apart:
- Educator-Friendly Model: Encouraging quality teachers to join, creating trust in educators, enabling them with tools and support.
- Flexible & Accessible Learning: Live sessions, doubt clearing, multi-language content, mobile access, features that matter especially to learners beyond major metro cities.
- Strategic Acquisitions & Product Diversification: Rather than staying narrow, Unacademy has broadened its offerings.
Current Status & Outlook:
- Verified valuation: $510 million as of 2020 when it raised $110 million.
- Headquarters: Bangalore, Karnataka, India. Operates at national scale.
- Future aims include improving profitability, expanding into newer categories (skills, non-exam learning), deeper penetration in smaller towns, and continuous product/technology enhancements.
Conclusion:
Unacademy’s journey, the transition from a simple YouTube channel to a major edtech platform valued at over US$500 million, is a story of vision, resilience, and adaptability. Founders’ focus on competitive exams, educator support, quality content, strategic expansion, and inclusivity have made the difference. While challenges remain, Unacademy’s path shows how edtech can democratize education, especially in a diverse country like India.
