Unacademy is an edtech startup that provides an online learning platform with learning resources and test preparation solutions. The platform offering educational courses announced a 5.33 percent decrease in total revenue to Rs 988.4 crore in FY24. The startup provides live coaching classes to students and allows educators to create video courses. These coaching and subscription services are the company’s primary source of revenue. The startup offers a seamless learning experience using advanced technologies and artificial intelligence.
Entrackr mentioned in its report that the firm also earns income through subscriptions to both online and offline learning services. The startup data intelligence platform, thekredible mentioned that the operating revenue for the firm increased by 26.15 percent to Rs 907 crore in FY23. The company’s revenue is now also largely dependent on the offline model.
The startup has secured over 880 million USD across twelve funding rounds since its inception, including $440 million raised during its series H funding round led by Temasek and others. The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 3.44 billion. Uncademy had not raised any funding round for over three years.
The Bengaluru startup provides courses for academic subjects, language learning, test preparation, and more. The online platform uses advanced technologies to offer quality content and the best customer experience. This edtech startup provides users with various video courses and learning solutions.
The legal, business sourcing, marketing, hosting, and other expenses decreased compared to last fiscal year. The total expenditure of the firm also saw a huge decline. Unacademy offers an online platform to connect educators with learners in different fields by providing a wide range of courses.
The company aims to improve its platform and offer innovative learning solutions to position itself well in the global edtech market. The startup improved its cost efficiency for this fiscal year and it expects more positive results for FY25. The company controlled its losses by 62 percent to Rs 631 Crore this financial year through cost-cutting measures.
In August, the startup announced that it would not be offering any appraisal to its employees. The EBITDA loss also improved and decreased to Rs 489 crore in FY24. Unacademy faces competition from other online learning service providers such as Byjus, Toppr, and Embibe.
Conclusion :
The SaaS-based edtech startup Unacademy announced a 5.33 percent decrease in its total revenue to Rs 988.4 crore in FY24. This online coaching and learning service platform provides several learning solutions including test preparations, language learning, and academic subjects. These subscriptions to both online and offline learning services are the firm’s primary sources of revenue. The loss also decreased by 62 percent to Rs 631 crore in FY24.
The operating revenue of the firm increased by 26.15 percent to Rs 907 crore in the same duration. The startup minimized its loss by 62 percent by reducing operating and employee expenses. The company has secured over 880 million USD across multiple funding rounds to date.
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