EdTech Unicorns 2024
An EdTech Unicorn is a privately held company with a valuation exceeding $1Billion. There are 28 EdTech unicorn companies worldwide. Almost all these EdTech companies are in North America and Asia. In fact, fifteen of these companies are based in the US, and six are in India. The remaining EdTech unicorns have headquarters in Taiwan, Canada, Austria, the UK, Australia, and Israel.
Seven entries from China were removed at the beginning of 2023 due to policy changes limiting how these companies access growth capital.
A large proportion of the Indian EdTech Unicorns are companies that offer private tuition, homework, and revision support.
As the global EdTech market is expected to continue to grow, so too is the number of global EdTech Unicorns. The Asian market is predicted to continue to expand alongside an increase in the EdTech companies from Europe and Australasia. The recent addition of companies from Australia, Austria, and Israel (June 2021) provide proof of this.
Several EdTech Unicorns moved on to become public companies, such as Coursera which is now listed on the NYSE following its IPO in March 2021 (which valued the company at over $7B). Udemy exited the list in October 2021 with a market capitalisation of $3.7B.
AUSTRALASIA: 1 EDTECH UNICORN
Go1
Workplace education
Valuation: $1B
Series D
Total Funding: $83.7M
Funding Rounds: 8
Number of Investors: 19
Headquarters: Brisbane, Australia
Website: http://www.go1.com/
EUROPE: 2 EDTECH UNICORNS
GoStudent
Online tuition
Valuation: $1.7B
Series C
Total Funding: 345.4 $M
Funding Rounds: 7
Number of Investors: 11
Headquarters: Vienna, Austria
Website: https://gostudent.org/
Multiverse
Digital skills and apprenticeships
Valuation: $1.7B
Series D
Total Funding: 414$M
Funding Rounds: 5
Number of Investors: 19
Headquarters: London, UK
Website: https://www.multiverse.io/en-GB
NORTH AMERICA: 16 EDTECH UNICORNS
Articulate
Workplace education
Valuation: $3.75B
Series A
Total Funding: $1.5B
Funding Rounds: 1
Number of Investors: 3
Headquarters: New York, USA
Website: http://www.articulate.com/
Udacity
Technology courses
Valuation: $1.1B
Secondary Market
Total Funding: $235M
Funding Rounds: 6
Number of Investors: 13
Headquarters: California, USA
Website: https://www.udacity.com/
ApplyBoard
Student recruitment
Valuation: $1.4B
Series C
Total Funding: $178.3M
Funding Rounds: 9
Number of Investors: 23
Headquarters: Ontario, Canada
Website: https://www.applyboard.com/
Age of Learning
Learning platform/apps
Valuation: $1.0B
Series A
Total Funding: $181.5M
Funding Rounds: 3
Number of Investors: 3
Headquarters: California, United States
Website: https://www.ageoflearning.com/
Guild Education
Adult education
Valuation: Over $1.0B
Series D
Total Funding: $228.5M
Funding Rounds: 6
Number of Investors: 22
Headquarters: Colorado, United States
Website: https://www.guildeducation.com/
Quora
Q&A Online learning
Valuation: $2B
Series D
Total Funding: $226M
Funding Rounds: 4
Number of Investors: 15
Headquarters: California, United States
Website: https://www.quora.com/
CourseHero
Online learning – Tertiary
Valuation: $1.1B
Series B
Total Funding: $97.4M
Funding Rounds: 8
Number of Investors: 26
Headquarters: California, United States
Website: https://www.coursehero.com/
Kajabi
Educational Content Management System
Valuation: $2B
Private Equity
Total Funding: $550M
Funding Rounds: 2
Number of Investors: 6
Headquarters: California, United States
Website: https://kajabi.com/
Degreed
Career upskilling
Valuation: $1.4B
Series D
Total Funding: $390.2M
Funding Rounds: 15
Number of Investors: 19
Headquarters: California, United States
Website: https://degreed.com/
Outschool
Online learning
Valuation: $1.3B
Series C
Total Funding: $130 M
Funding Rounds: 5
Number of Investors: 13
Headquarters: California, United States
Website: https://outschool.com/
Newsela
Online learning
Valuation: $1B
Series D
Total Funding: $172.2M
Funding Rounds: 6
Number of Investors: 24
Headquarters: New York, United States
Website: https://newsela.com/
Quizlet
Online learning
Valuation: $1B
Series C
Total Funding: $62M
Funding Rounds:3
Number of Investors: 7
Headquarters: California, United States
Website: https://quizlet.com/en-gb
Masterclass
Online learning
Valuation: $2.75B
Series F
Total Funding: $461.4M
Funding Rounds: 7
Number of Investors: 33
Headquarters: California, United States
Website: https://www.masterclass.com/
Handshake
Online learning
Valuation: $1.5B
Series E
Total Funding: $234M
Funding Rounds: 6
Number of Investors: 19
Headquarters: California, United States
Website: https://joinhandshake.com/
ClassDojo
Classroom Management
Valuation: $1.25B
Series D
Total Funding: $191.1M
Funding Rounds: 5
Number of Investors: 30
Headquarters: San Francisco, United States
Website: https://www.classdojo.com/
GoGuardian
Web Filtering/ Device Management
Valuation: $1.0B
Private equity
Total Funding: $200M
Funding Rounds: 3
Number of Investors: 3
Headquarters: California, United States
Website: https://www.goguardian.com/
ASIA: 9 EDTECH UNICORNS
ByJu’s
Online learning
Valuation: $13B
Series F
Total Funding: $2.3B
Funding Rounds: 16
Number of Investors: 31
Headquarters: Bangalore, Karnataka, India
Website: http://www.byjus.com/
iTutorGroup
Online tuition
Valuation: $1B
Series Unknown
Total Funding: $315M
Funding Rounds: 4
Number of Investors: 8
Headquarters: T’ai-pei, Taiwan
Website: http://www.itutorgroup.com/
Unacademy
Online learning
Valuation: $2B
Series Unknown
Total Funding: $398.5M
Funding Rounds: 11
Number of Investors: 36
Headquarters: Bangalore, India
Website: https://unacademy.com/
JoyTunes
Online learning – music
Valuation: $1B
Series C
Total Funding: $42m
Funding Rounds: 5
Number of Investors: 12
Headquarters: Tel Aviv, Israel
Website: http://www.joytunes.com/
Emeritus
Online learning – Adult
Valuation: $3.2B
Series E
Total Funding: $690m
Funding Rounds: 2
Number of Investors: 2
Headquarters: Singapore
Website: http://www.emeritus.org/
UpGrad
Online learning – Higher Education
Valuation: $1.2B
Series Unknown
Total Funding: $201m
Funding Rounds: 4
Number of Investors: 5
Headquarters: Mumbai, India
Website: https://upgrad.com/
Leadschool
School Support Services
Valuation: $1.1B
Series E
Total Funding: $166M
Funding Rounds: 5
Number of Investors: 3
Headquarters: Mumbai, India
Website: https://leadschool.in/
Vedantu
Online tutoring platform
Valuation: $1B
Series E
Total Funding: $290.9M
Funding Rounds: 10
Number of Investors: 9
Headquarters: Bangalore, India
Website: http://www.vedantu.com/
Physics Wallah
Online learning and exam preparation
Valuation: $1.1B
Series A
Total Funding: $100M
Funding Rounds: 1
Number of Investors: 2
Headquarters: Noida, Uttar Pradesh, India
Website: https://www.pw.live/
