In recent years, the online education industry has witnessed a tremendous surge in demand, and Unacademy is one of the leading players in this sector.
Unacademy is an Indian online learning platform that offers courses in a variety of subjects, including competitive exams, programming, and languages. The platform has grown rapidly, and today, it boasts more than 50,000 educators and over 64 million registered learners.
In this blog, we will dive deeper into the Unacademy success story, exploring everything you need to know about this edtech giant. So, let’s get started!
History
Unacademy is a widely popular online learning platform that has revolutionized the education sector in India. It has made quality education accessible and affordable to millions of students across the country. The company was founded in 2015 by Gaurav Munjal, Roman Saini, and Hemesh Singh.
Unacademy started as a YouTube channel where educators provided free video lectures on various topics. It gained popularity quickly, and soon the founders realized the need for a dedicated platform for online learning. In 2016, Unacademy launched its own learning management system (LMS), and the rest, as they say, is history.
Present Day
Today, Unacademy is one of the leading edtech platforms in India, with over 50,000 registered educators and more than 62 million learners. The platform offers courses in a wide range of subjects, including UPSC, banking, railways, SSC, engineering, medical, and law, among others.
One of the most unique features of Unacademy is its live classes. Learners can attend live classes conducted by top educators in real time, ask questions, and get answers instantly. This interactive approach to learning has proven to be highly effective, and many learners have reported significant improvement in their grades and understanding of the subjects.
Social Service
Unacademy has also launched several initiatives to support learners from underprivileged backgrounds. These include the Unacademy Foundation, which provides free education to underprivileged children, and the Unacademy Learners’ App, which offers free content for learners preparing for various competitive exams.
Unacademy has received several accolades for its contribution to the education sector. It was awarded the Best Learning App at the 2020 Indian Education Awards and was also listed among the top 50 most innovative companies in India by Fast Company.
In addition to its online learning platform, Unacademy has also launched a dedicated app for learners on the go. The Unacademy App is available on both Android and iOS platforms and offers a seamless learning experience to learners.
Facts about Unacademy
Some additional details about Unacademy and its success story:
- Funding: Unacademy has raised significant funding since its inception. It has raised over $400 million in funding from investors such as SoftBank, Facebook, General Atlantic, and Sequoia Capital, among others.
- Acquisitions: Unacademy has also made strategic acquisitions to expand its offerings and reach. In 2020, it acquired Kreatryx, a platform for GATE and ESE exam preparation, and PrepLadder, a medical entrance exam preparation platform.
- Growth: Unacademy has seen significant growth in recent years. Its revenue grew by 3.5x in the fiscal year 2021, and it recorded a 40% increase in monthly active users during the same period.
- Partnerships: Unacademy has also formed partnerships with various organizations to expand its reach and offerings. In 2021, it partnered with the Board of Control for Cricket in India (BCCI) to launch a learning program for cricketers.
- Social impact: Unacademy has been actively involved in social impact initiatives. In 2020, it launched the Unacademy Rise program to support small and medium-sized businesses affected by the COVID-19 pandemic. The program offered free online courses and mentorship to help businesses adapt to the changing landscape.
- Awards and recognition: Unacademy has received several awards and recognition for its contributions to the education sector. It was ranked among the top 25 companies on the LinkedIn Top Startups List in 2019 and 2020. It was also awarded the Best Education Company of the Year at the 2020 Business Leader Awards.
- Revenue model: Unacademy offers both free and paid courses. Learners can access some courses for free, while others require payment. Unacademy generates revenue by charging learners for paid courses and by taking a commission on the revenue generated by educators through their courses.
- Global expansion: Unacademy has expanded its reach beyond India. In 2020, it launched its services in Indonesia, and in 2021, it acquired two edtech startups in the US, PrepLadder and CodeChef. These acquisitions mark Unacademy’s entry into the US edtech market.
- Educator recruitment: Unacademy has a rigorous process for selecting educators. Prospective educators have to go through a screening process that includes a demo class and an interview. Only educators who pass the screening process are allowed to create courses on the platform.
- Brand ambassadors: Unacademy has roped in several high-profile individuals as brand ambassadors. These include cricketer Sachin Tendulkar, badminton player PV Sindhu, and film actor Ayushmann Khurrana, among others. These brand ambassadors help promote the platform and its offerings.
- Technology: Unacademy uses advanced technology to enhance the learning experience for learners. It has developed its own learning management system, which includes features such as real-time quizzes, live chat, and interactive whiteboards, among others. The platform also uses machine learning algorithms to recommend courses to learners based on their preferences and performance.
- Awards and recognition: Unacademy has received numerous awards and recognition for its innovative approach to education. It was named the Best Education Startup at the 2018 Indian Startup Awards and was also listed among the top 50 most innovative companies in the world by Fast Company in 2019.
Conclusion
Unacademy has emerged as a game-changer in the Indian education sector, providing millions of learners with access to high-quality courses and resources at affordable prices. The platform’s focus on interactive and engaging learning, commitment to social impact, strategic partnerships, and innovative use of technology has helped it achieve rapid growth and success.
As Unacademy continues to expand its reach, both in India and globally, it is likely to play an increasingly significant role in shaping the future of education. With its impressive track record of success and a strong team of founders, investors, educators, and learners, Unacademy is well-positioned to become a leading player in the global edtech market.
Overall, Unacademy’s story is a testament to the power of technology and innovation in transforming traditional education systems. It is a prime example of how online learning platforms can bridge the gap between students and educators, making education accessible to all.
We hope this blog has provided you with valuable insights into Unacademy’s journey and helped you understand why it has become such a popular platform for learners and educators alike.
If you want to learn more about Unacademy, you can visit its Wikipedia page – Unacademy Wiki.
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