It meant Unacademy a 100% increase in subscriptions and a massive rise in engagement across all its platforms.
Unacademy was founded in Bengaluru by Gaurav Munjal and Hemesh Singh in 2015.
It has raised over $858 million, including secondary shares sales, since its inception.
At the moment, there are seven lakh subscribers to the edtech platform.There are more than 60,000.Teachers and more than 6.2 million learners.
Since our beginning, we have had a goal to make high-quality education accessible for all.Munjal (co-founder, CEO) explained that the platform brings together the most qualified educators and provides a seamless technological experience for everyone.
He stated, “Our goal is to increase our internal growth by 10 percent over the current situation.”
In India, the number of students who use edtech products has increased by twofold in recent years.According to Omidyar Network India and RedSeer, India’s edtech market will reach $3.5 billion in 2022.
Unacademy’s monthly watchtime minutes have risen to an unprecedented high of more than one billion.
In 2021, it acquired Rheo TV as well as TapChief.The two teams were merged in order to create Relevel, where students can pass certain tests and find a job at private companies.
Total number of acquisitions and mergers is 11.Unacademy Group now includes Unacademy, Graphy, Relevel, and CodeChef.
In October, Graphy acquired edtech software-as-a-service (SaaS) platform Spayee for $25 million.Spayee lets content creators create custom courses using audio and video tutorials as well as PDF documents, quizzes and assignments.
Unacademy invested $20 million to Relevel, its job-hiring platform, in September.
“This has led us to expanding into K-12 and focusing on Relevel for next year,” he added.
The Relevel has over 35,000 test takers and over Rs 4.5 crore worth of job offers, and companies like CRED, MyGlamm and MoEngage will be hiring Relevel candidates by the end of this month
According to him, the inherent benefits of edtech, namely access to top educators and content, flexibility in learning schedules, affordability and reach, irrespective of geographical constraints has made edtech the preferred medium for learners today.
Unacademy has a high learner base in tier 2 and 3 towns and 70 per cent of its learners come from small towns.
“As a long-term goal, we plan to grow beyond the test prep space in India and cater to the educational needs of other countries,” Munjal told IANS.
Unacademy offers a diverse range of courses across categories like test preparation, K12 and others.The government exams category forms a crucial part of this pie, accounting for more than 30 per cent of total active paid users on the platform.
“In addition to UPSC, Railways, State PSC, SSC, Bank, CET, Defence, Teaching, RBI and NABARD, we are planning to expand our portfolio and add additional courses as we grow our test preparation business,” said Munjal.
(Nishant Arora can be reached at [email protected])
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