Unacademy, the popular Indian edtech platform, is set to achieve profitability at the group level in April, according to the company’s CEO, Gaurav Munjal. This news comes as a welcome surprise to the Indian startup community, as Unacademy has been known to invest heavily in marketing and product development in recent years.
Munjal announced this milestone on Twitter, stating that “Unacademy will be profitable at a group level from April.” The tweet also included a graph showing the company’s revenue growth over the past few years.
Unacademy has been growing rapidly in the Indian edtech market, offering online courses, exam preparation materials, and other educational content. The platform was founded in 2015, and has since raised over $440 million in funding from investors such as SoftBank, General Atlantic, and Sequoia Capital.
Despite the challenges posed by the COVID-19 pandemic, Unacademy has managed to thrive in the online education space. The company’s user base has grown significantly in recent years, with over 50,000 registered educators and more than 40 million registered learners.
Unacademy’s profitability milestone is a result of the company’s strong growth and efficient cost management, according to Munjal. He revealed that the firm has been steadily reducing its cash burn rate, which is expected to help them achieve profitability soon.
Munjal further elaborated on the company’s financial status, stating that the revenue in the financial year 2021-22 is projected to be around $300-350 million, which would indicate an exponential growth compared to the previous year.
The edtech sector has witnessed a significant boost in India, particularly after the COVID-19 pandemic forced schools and colleges to shut down. This led to a surge in demand for online learning platforms such as Unacademy, Byju’s, and Vedantu, among others.
However, the online education space is becoming increasingly competitive, with many new players entering the market. To stay ahead of the game, Unacademy has been investing heavily in product development, marketing, and acquisitions.
The company has also undertaken a number of strategic initiatives such as partnerships and collaborations with leading educational institutions to strengthen its foothold in the online education industry. Unacademy has recently launched a range of new products and services, including live classes, video-on-demand courses, mentorship programs and virtual internships. It is clear that Unacademy is committed to becoming a leader in the online education industry and has set an example for other companies to follow.
With its innovative approach, Unacademy has made it possible for students from all backgrounds to access affordable and high-quality educational resources from anywhere in the world.
In 2020, Unacademy acquired Kreatryx, an online platform for GATE and ESE exams. This acquisition helped Unacademy strengthen its position in the engineering and technical education space.
Unacademy has also been focusing on expanding its reach beyond India. In 2020, the company launched a new learning app in Indonesia, called Prepsmarter. The app offers courses in Bahasa Indonesia and English, and is aimed at students preparing for competitive exams in Indonesia.
Unacademy’s profitability milestone is expected to attract more investors to the company, and will likely help the company raise more capital in the future. The company is reportedly planning to go public in the next few years, and the profitability milestone could help it achieve a better valuation.
In conclusion, Unacademy’s achievement of profitability at the group level in April is a significant milestone for the company and the Indian edtech sector as a whole. It reflects the company’s strong growth, efficient cost management, and strategic investments in product development and acquisitions. The online education space in India is expected to continue growing in the coming years, and Unacademy is well-positioned to take advantage of this trend.
