Is it true that Unacademy, the start-up, has crossed $1 billion valuation?

Education based start-ups have been the talk of the town. In fact Edtech, the combination of education and technology, is the biggest valuation story among Indian start-ups and that is visible in recent valuations as many of them are treading the path opened by Byju’s.

A recent start-up which started off as a YouTube channel, Unacademy, has become the next Unicorn with an overall valuation of over $1 billion. Unacademy raised $150 million from Masayoshi’s Softbank valuing the company at $1.45 billion.

It is surprising to note that the valuation of Unacademy jumped three-fold or 200% in just the last 6 months. The lockdown has facilitated a massive shift to online education platforms as parents try their level best to keep kids busy and intellectually stimulated.

Unacademy will apply these funds raised from Softbank to launch a slew of new products. Unacademy has a network of 18,000 educators and 3.50 lakh subscribers and was also recently inducted as an IPL sponsor for the years 2020 to 2022.