The new startup in the online learning platform, Unacademy raised $150 million at $1.45 billion valuations in a new bankrolling step, which evaluated the Facebook-backed firm at $1.45 billion (post-money valuation).

Unacademy’s Series F financing was led by SoftBank Group through its Vision Fund 2. Existing investors like Facebook, Blume Ventures, Nexus Partners, General Atlantic and Sequoia Capital also took part in it. With this deal, Unacademy, which in its four and a half year, raised almost $350 million.

Guiding students in better preparation for competitive examinations to get admission in a college and offering graduation level courses, Unacademy on its application delivers live classes. The classes are conducted by educators who later engage in review sessions with students for an in-depth discussion of topics. Recently, Unacademy has conducted several online interviews of high-profile individuals like the famous Indian politician Shashi Tharoor. Mr. Tharoor gave his opinion on a range of topics.

In the previous year, Unacademy launched a subscription service, subscribing to which students get access to all live classes. Now, Unacademy platform has 30 million registered users with a paid-subscriber base of 350,000!

Gaurav Munjal, Co-Founder and Chief Executive, Unacademy, tweeted, “Our goal always has been to democratise knowledge and make it more affordable and accessible by getting the best experts of the world help everyone achieve their goals. We are just getting started.”

On February, Unacademy’s valuation, which was valued at $400 million last year, closed its Series E financing round with massive growth in their usage.

Byju’s, the arch-rival of Unacademy, which is also backed by Sequoia Capital India, was valued at $10.5 billion, estimated in the recent financing round from Mary Meeker’s Bond, mentioned in TechCrunch report. Byju’s is now the most valued edtech startup in the world.

With coronavirus outbreak in India at the beginning of the year, New Delhi declared a nationwide lockdown where schools remained closed nationwide. This made parents explore digital learning services as alternative for their wards.

Online learning platforms dominated the deal flows recently, as at the beginning of this week, Chan Zuckerberg Initiative backed Mumbai-headquartered Eruditus raised $113 million funding. Toppr, which is solving K-12 students’ problems, offering four products, raised $46 million and Bengaluru-located Vedantu accumulated $100 million.

As a consolidation, Unacademy acquired PrepLadder. PrepLadder offers courses for medical students. This opened an investment round of $5 million for acquiring a majority stake in Mastree. In other news, Byju’s acquired 18-month-old WhiteHat Jr., which teaches coding to kids for $300 million.