The e-learning sector includes 23 major private companies. India's BYJU'S leads with a $22B valuation, followed by China's Yuanfudao at $17B.
Other major players include US-based Articulate, which raised $1.5B in a single funding round.
Below is the full list of 23 E-Learning unicorn startups at this time.
Top 10 Most Valuable E-Learning Unicorns
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Get the Sheet for $50BYJU'S has built an educational technology platform that delivers personalized learning programs for K-12 students. Their flagship learning app uses a mix of video lessons and interactive tools to make complex subjects more engaging for young learners.
| Valuation | $22B |
| Headquarters | Bangalore, Karnataka, India |
| Year Founded | 2011 |
| Founders | Byju Raveendran, Divya Gokulnath |
| Funding Amount | $6.3B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | Peak XV Partners, Bond, BlackRock, Lightspeed Venture Partners, B Capital |
Yuanfudao has built a leading online education platform that delivers live courses and tutoring to K-12 students. Their services are known for integrating AI to create personalized learning experiences and interactive study tools.
| Valuation | $17B (Joined May 2017) |
| Headquarters | Beijing, Beijing, China |
| Year Founded | 2012 |
| Founders | Ke Shuai, Xin Li, Yong Li |
| Funding Amount | $4B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series G |
| Top Investors | Temasek Holdings, Hillhouse Investment, IDG Capital, Warburg Pincus, Matrix Partners China |
Zuoyebang operates a massive online education platform offering tutoring and homework help to K-12 students. Its core product uses AI to provide instant answers to student questions, functioning as a dedicated search engine for school subjects.
| Valuation | $10B (Joined July 2018) |
| Headquarters | Beijing, Beijing, China |
| Year Founded | 2014 |
| Founders | Hou Jianbin |
| Funding Amount | $2.9B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series E |
| Top Investors | New Enterprise Associates, Tiger Global Management, Goldman Sachs, Legend Capital, HSG |
VIPKID operates a global online education platform connecting children with teachers for real-time English immersion learning. Their service provides one-on-one video lessons, creating a personalized and immersive environment for young learners around the world.
| Valuation | $5B (Joined August 2016) |
| Headquarters | Beijing, Beijing, China |
| Year Founded | 2013 |
| Founders | Cindy Mi, Jessie Chen, Victor Zhang |
| Funding Amount | $1.1B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series E |
| Top Investors | HSG, Matrix Partners China, Tencent, Northern Light Venture Capital, Coatue |
Learneo operates a platform of learning and productivity businesses that includes Course Hero, QuillBot, and CliffsNotes. They provide a suite of academic tools and resources used by over 100 million learners and educators worldwide.
| Valuation | $4B |
| Headquarters | Redwood City, California, United States |
| Year Founded | 2006 |
| Founders | Andrew T. Grauer, Gregor Carrigan |
| Funding Amount | $492.4M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series C |
| Top Investors | IDG Capital, TPG, 137 Ventures, Wellington Management, SV Angel |
Articulate develops widely-used apps for creating workplace e-learning courses. Their all-in-one suite, Articulate 360, gives teams the authoring tools needed to build engaging online training.
| Valuation | $4B (Joined July 2021) |
| Headquarters | New York, New York, United States |
| Year Founded | 2002 |
| Founders | Adam Schwartz |
| Funding Amount | $1.5B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series A |
| Top Investors | ICONIQ Growth, General Atlantic, Blackstone Accelerates Growth |
Unacademy operates a comprehensive online learning platform featuring video lectures and live classes from expert educators. They help millions of students prepare for competitive exams through structured courses and extensive practice tests.
| Valuation | $3.44B (Joined September 2020) |
| Headquarters | Bangalore, Karnataka, India |
| Year Founded | 2015 |
| Founders | Gaurav Munjal, Hemesh Singh, Roman Saini, Sachin Gupta |
| Funding Amount | $838.5M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series H |
| Top Investors | Sequoia Capital, Peak XV Partners, Nexus Venture Partners, Elevation Capital, General Atlantic |
Outschool runs an online marketplace of live, small-group classes for kids. The platform connects learners with teachers across thousands of unique subjects, from core academics to niche hobbies.
| Valuation | $3B (Joined April 2021) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2015 |
| Founders | Amir Nathoo, Mikhail Seregine, Nick Grandy |
| Funding Amount | $240.2M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series D |
| Top Investors | Y Combinator, Lightspeed Venture Partners, Reach Capital, Union Square Ventures, Bond |
Age of Learning creates a suite of popular online learning programs for children from pre-K through middle school. Their flagship product, ABCmouse, provides a comprehensive digital curriculum that helps millions of kids build foundational academic skills.
| Valuation | $3B (Joined May 2016) |
| Headquarters | Glendale, California, United States |
| Year Founded | 2007 |
| Founders | Doug Dohring |
| Funding Amount | $531.5M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series C |
| Top Investors | Tencent, TPG, ICONIQ Growth, Qatar Investment Authority, Madrone Capital Partners |
Physics Wallah runs an online education platform that prepares students in India for competitive entrance exams like JEE and NEET. Their service combines live classes, video lectures, and test series to make quality exam prep more accessible and affordable.
| Valuation | $3B |
| Headquarters | Noida, Uttar Pradesh, India |
| Year Founded | 2014 |
| Founders | Alakh Pandey, Prateek Maheshwari |
| Funding Amount | $312M |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Series B |
| Top Investors | Hornbill Capital Advisers, WestBridge Capital, GSV Ventures, Lightspeed Venture Partners |
The Remaining 13 E-Learning Unicorns
The top ten companies are just part of a much bigger picture in e-learning. This next group of startups comes from all over the world, including the US, India, and China, and together they have raised over $3.6 billion.
Each of these companies is tackling a different piece of the education puzzle. Here’s a look at the other unicorns shaping how we learn online.