Unacademy, a five-year-old startup, has achieved unicorn status with a valuation of $1.45 billion following a significant investment from SoftBank. This investment marks SoftBank’s first foray into the Indian startup ecosystem this year.

In addition to SoftBank’s backing, Unacademy received funding from Facebook in February, representing the social media giant’s second direct investment in India. The startup also enjoys support from other prominent investors, including Sequoia India, Nexus Venture Partners, Steadview Capital, and Blume Ventures, along with individual investors like Kalyan Krishnamurthy, CEO of Flipkart, and Sujeet Kumar, co-founder of Udaan.

Gaurav Munjal, co-founder of Unacademy, expressed the company’s mission to democratize knowledge and enhance its accessibility through Twitter. He emphasized the goal of leveraging expertise from around the world to help individuals achieve their aspirations, signaling that Unacademy is just beginning its journey.

Steady Growth Amidst Challenges

Unacademy has experienced significant growth, particularly amidst the COVID-19 pandemic, which led to a surge in online learning. With over 13 million learners on its platform, the startup has solidified its position in the edtech sector.

However, amidst its achievements, Unacademy faced challenges when one of its educators was reported to have shared a video inciting hatred on the platform. In response, Unacademy swiftly addressed the issue, with the educator removing the content and issuing an apology. The startup reiterated its commitment to not endorse any form of hateful content.

Official Sponsorship of Indian Premier League

Further adding to its accomplishments, Unacademy serves as an official sponsor for the Indian Premier League, strengthening its presence and brand visibility in the sports arena.