Edtech unicorn Unacademy acquires test prep firm Gate Academy
- ByStartupStory | September 7, 2022
Edtech Unicorn Unacademy has acquired Gate Academy for an undisclosed amount to strengthen its offerings in the Graduate Aptitude Test in Engineering which is shortly referred to as GATE in the test preparation segment. As a part of the transaction, the entire team of Gate Academy will join the edtech firm.
“With the announcement of launching 50 unique channels, we are strengthening our commitment towards democratising education and presenting a strong content strategy for learners who are seeking knowledge in unique and exciting ways. Moreover, we are extending our purpose to the larger community and there can be no better occasion than today to share it with everyone. It is all about imparting education, which will build a stronger future,” said Vivek Sinha, Chief Operating Officer, Unacademy.
Unacademy has raised a total of $838.5M in funding over 12 rounds. Their latest funding was raised on Aug 1, 2021 from a Series H round. Unacademy is funded by 42 investors. Mirae Asset Venture Investment and General Atlantic are the most recent investors.
The startup has launched 50 new YouTube channels. The educational channels announced by Unacademy during its flagship event show broad categories—NEET UG and JEE, which includes Neev Udaan, NEET ki Neev, JEE QBank, Flash Learn, and Life after IIT, UPSC, other post graduation segments such as UPSC Unstoppable, Unacademy Margdarshak, EduQuest, IAS Icons, Tick Tock Tax and The 99 Percentile Club, bank, SSC and defence, including Unacademy Indradhanush, Unacademy Bangla, and Kerela Vijya Veethi.
Unacademy is an online learning platform that provides educational content such as video lectures and examinations. It was founded in 2015 by Gauraav Munjal, Hemesh Singh, Roman Saini and Sachin Gupta. Some of its lead investors are Mirae Asset Venture Investment, Tiger Global Management and Dragoneer Investment Group.
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