Unacademy is an Indian education technology platform that helps students prepare for competitive examinations and school-level studies. Learners can access recorded lessons, live classes, mock tests, quizzes, study material and doubt-solving sessions through its website and mobile application.
The company uses free educational content to attract a large number of learners. Students who require structured courses, complete syllabus coverage, premium educators or personalised guidance can purchase paid subscriptions.
Unacademy has also expanded beyond its main online platform. It operates physical coaching programmes, owns medical entrance preparation platform PrepLadder and runs Graphy, a technology platform for educators and content creators.
Unacademy therefore makes money through online subscriptions, offline coaching fees, medical test-preparation plans, creator-platform charges and other education-related services.
Unacademy Company Quick Overview
| Particular | Details |
| Brand name | Unacademy |
| Legal company | Sorting Hat Technologies Private Limited |
| YouTube channel started | 2010 |
| Education platform launched | 2015 |
| Founders | Gaurav Munjal, Roman Saini and Hemesh Singh |
| Headquarters | Bengaluru, Karnataka |
| Co-founder and CEO | Gaurav Munjal |
| Industry | Education technology and test preparation |
| Core business model | Freemium learning and paid subscriptions |
| Main services | Live classes, recorded courses, mock tests, notes and mentorship |
| Major group businesses | Unacademy, PrepLadder and Graphy |
| Platform reach | More than 50 million learners claimed by the company |
| FY2025 total income | Approximately ₹826.3 crore |
| FY2025 net loss | Approximately ₹436 crore |
| Current ownership development | Proposed merger with upGrad received CCI approval in July 2026 |
Unacademy began as an educational YouTube channel created by Gaurav Munjal. It became a structured learning platform in 2015 with Roman Saini and Hemesh Singh. The company says its platform has reached more than 50 million learners and works with over 1,000 educators.
Gaurav Munjal currently oversees Unacademy as co-founder and CEO. The Competition Commission of India approved upGrad’s proposed acquisition and merger involving Unacademy’s parent company in July 2026. However, regulatory approval should not automatically be treated as confirmation that every closing and integration step has been completed.
What Is the Unacademy Business Model?
Unacademy follows a freemium education model.
A considerable amount of content is available free through Unacademy’s app, website, special classes and YouTube channels. Free lessons allow students to experience the teaching style before paying for a course.
Learners who want complete batches, premium educators, structured preparation, test series and advanced support can purchase a subscription. The subscription usually provides access to courses within a particular examination category or “goal.”
For example, a student preparing for UPSC may purchase a UPSC subscription, while a JEE candidate chooses a separate IIT-JEE plan. Access to one examination category does not necessarily provide access to every course offered by Unacademy.
The company also follows an offline coaching model through Unacademy Centres and a software-platform model through Graphy.
How Does Unacademy Make Money?
1. Plus Subscriptions
Plus subscriptions are one of Unacademy’s main sources of income.
Students pay for access to structured courses, live classes, recorded sessions, mock tests, quizzes and doubt-solving support for a selected examination category.
Subscriptions may be offered for different periods, such as three, six, twelve or twenty-four months. Longer plans generally have a higher total price but may cost less per month.
Once a student purchases a subscription, Unacademy records the eligible amount as revenue over the service period according to its accounting policies.
Plus plans remain available across categories such as UPSC, GATE, school education and other competitive examinations.
2. Iconic and Premium Subscriptions
Iconic subscriptions are higher-priced plans that include the benefits of Plus along with additional services.
Depending on the examination, these benefits may include:
- Personal coaching or mentorship
- Preparation planning
- Regular progress reviews
- Priority doubt-solving support
- Printed notes
- Test-performance analysis
- Access to learner communities
Unacademy earns more from an Iconic subscriber than from a basic Plus subscriber. However, it also incurs additional expenses for mentors, printed material, delivery and personalised assistance.
For certain examinations, Iconic learners receive regular one-to-one guidance and strategic preparation support in addition to ordinary live classes.
3. Offline Coaching Centre Fees
Unacademy operates classroom programmes for examinations such as UPSC, IIT-JEE, NEET and government recruitment tests.
Students pay course fees to attend physical classes, use classroom facilities and access related online resources. The company can also sell combined programmes that include both classroom instruction and digital learning.
Offline centres help Unacademy serve students who prefer direct interaction, fixed schedules and a traditional coaching environment.
However, physical coaching is more expensive to operate than online learning. The company must pay for buildings, teachers, electricity, administration and local marketing even when all classroom seats are not filled.
Unacademy continued to offer centre-based foundation programmes for competitive examinations during 2026.
4. Special Batches and Test-Preparation Products
Students may purchase special batches, test series, crash courses or revision programmes designed for particular examinations.
These products can focus on:
- Complete syllabus preparation
- Final revision
- Mock examinations
- Previous-year questions
- Interview preparation
- Subject-specific improvement
Shorter programmes allow Unacademy to earn from learners who may not purchase a long-term subscription.
They are especially useful before important examination dates, when students require revision, test practice and last-minute guidance.
5. PrepLadder Subscriptions
PrepLadder is Unacademy Group’s medical test-preparation platform. It primarily serves students preparing for NEET-PG, FMGE and medical super-speciality examinations.
PrepLadder sells different subscription plans containing combinations of video lectures, question banks, notes, mock tests, revision tools and live classes.
Its plans include lower-priced test and question-bank products as well as premium packages with video classes and printed material. PrepLadder’s current offerings include PRO, ELITE and examination-specific premium plans.
The subscription amount paid to PrepLadder contributes to the wider Unacademy Group’s consolidated income. However, it should not be described as revenue earned directly through the main Unacademy app.
6. Graphy Creator Platform
Graphy provides technology that allows educators, trainers and creators to launch their own online learning businesses.
Creators can use Graphy to:
- Build websites and mobile applications
- Sell recorded courses
- Conduct webinars
- Create memberships
- Sell digital products
- Accept online payments
- Manage learner communities
Graphy can earn through subscription charges, platform plans and a percentage of sales completed using its technology.
Its current pricing model includes a transaction-based option charging a percentage of creator sales, along with tools for websites, payments, communities and course delivery.
This is different from Unacademy’s main marketplace. On Graphy, the creator generally builds and controls an independent education brand while paying Graphy for the technology.
7. Printed Notes and Learning Material
Selected premium programmes include printed notes, practice books and other physical learning material.
The price of these materials may be included within the subscription rather than charged separately. Unacademy can also offer books, notes or study kits as part of specialised programmes.
Physical material can increase the perceived value of a course, especially for students who prefer reading and writing on paper.
However, printing creates additional costs involving paper, packaging, storage and delivery. Unacademy must ensure that the higher subscription price covers these expenses.
8. Partnerships and Institutional Programmes
Unacademy can work with educational institutions, state governments and other organisations to provide examination preparation or learning support.
Income may be earned through programme contracts, sponsored subscriptions, technology services or bulk learner access.
Institutional partnerships allow the company to reach students without acquiring every learner through individual online advertising.
However, the size and commercial conditions of such agreements vary, and Unacademy does not publicly provide detailed revenue figures for every partnership.
How Does Free Content Help Unacademy Earn Money?
Free lessons are primarily a customer-acquisition tool.
A learner may first watch an educator’s free YouTube video or special class. After developing confidence in the educator, the learner may purchase a paid course to receive complete syllabus coverage and structured preparation.
Popular educators can attract thousands of learners without requiring Unacademy to spend the same amount on conventional advertisements.
However, free content also creates a challenge. Many learners may continue using free videos without ever purchasing a subscription. Unacademy must therefore make its paid experience sufficiently useful to encourage conversion.
Subscription Value Is Not the Same as Immediate Revenue
Suppose a learner pays ₹24,000 for a twelve-month subscription. The complete amount may be collected at the beginning, but the company provides classes and services throughout the year.
For accounting purposes, the subscription income may be recognised over the period in which the service is delivered.
The ₹24,000 is also not pure profit. Unacademy must pay educators, employees, mentors, technology providers, payment gateways and marketing expenses.
Refunds, discounts and promotional offers can further reduce the amount ultimately retained.
Major Costs in the Unacademy Business Model
Payments to educators and employees are important costs for Unacademy.
Other major expenses include:
- Technology and cloud infrastructure
- Video production and live-streaming systems
- Educator incentives
- Advertising and sponsorships
- Classroom rent and maintenance
- Printed notes and delivery
- Customer support
- Payment-processing charges
- Business restructuring and employee stock options
Online education can theoretically serve many students through the same class. However, intense competition means platforms often spend heavily to attract popular teachers and new subscribers.
Latest Financial Performance
Unacademy Group reported total income of approximately ₹826.3 crore in FY2024–25, around 16% lower than the previous year.
Its net loss declined by approximately 31% to ₹436 crore. EBITDA loss improved from around ₹489 crore in FY2024 to ₹305 crore in FY2025, largely because the company reduced operating expenses and focused more strongly on cost control.
Audited filing-based analysis places consolidated revenue from operations at approximately ₹702 crore, with the remaining income coming from interest and other non-operating sources. The consolidated net loss was approximately ₹435 crore.
Therefore, the ₹826.3 crore figure should be understood as total income rather than income earned entirely from student subscriptions.
Complete FY2025–26 financial results were not publicly available at the time of writing.
Why the Unacademy Business Model Can Work
A single online class can be delivered to thousands of learners. This gives digital education the potential to scale without building a new classroom for every batch.
The platform also offers several levels of monetisation. A learner may begin with free content, purchase a Plus subscription and later upgrade to an Iconic or offline programme.
PrepLadder and Graphy diversify the company beyond general test preparation. They allow Unacademy Group to earn from medical students and independent course creators.
Challenges Facing Unacademy
Unacademy faces strong competition from Physics Wallah, Allen, Vedantu, traditional coaching institutes and free educational YouTube channels.
Many students prefer well-known individual teachers rather than remaining loyal to one platform. The departure of a popular educator can therefore affect subscriptions.
Offline centres create fixed costs, while online users frequently expect low prices because large amounts of educational content are available free.
The company has also experienced declining revenue despite reducing its losses. Restoring growth without returning to heavy cash spending remains an important challenge.
The proposed merger with upGrad adds another uncertainty. Although the transaction received competition approval in July 2026, the final structure, integration process and long-term effect on the Unacademy brand will depend on the completion terms.
Conclusion
Unacademy makes most of its money through paid online subscriptions and offline coaching programmes. Plus plans provide structured digital learning, while premium subscriptions offer additional mentorship and support.
PrepLadder subscriptions, Graphy platform charges, test series and learning materials provide additional income to the wider group.
Its free content attracts learners, but the company earns only when enough users purchase paid products. Unacademy’s future will depend on improving paid conversions, controlling educator and centre expenses, and successfully completing its proposed integration with upGrad.
FAQs
Q. Can students use Unacademy without paying?
Yes. Unacademy provides free classes and educational content. A paid subscription is required for complete access to premium batches and certain advanced features.
Q. Does one Unacademy subscription cover every examination?
Usually, no. Subscriptions are generally linked to a selected examination category or goal. Students should check the included courses before paying.
Q. Do learners pay educators directly?
Normally, learners pay Unacademy for the subscription. The company compensates educators according to separate contracts, incentives or commercial arrangements.
Q. Is PrepLadder included with every Unacademy subscription?
No. PrepLadder is a separate medical preparation platform with its own plans and pricing.
Q. Has upGrad fully acquired Unacademy?
The Competition Commission of India approved the proposed acquisition and merger in July 2026. However, approval is one stage of the transaction, and public reports indicated that the remaining closing process was still being completed.
