Bengaluru: Learning platform Unacademy on Monday announced it has raised USD 440 million (about Rs 3,274 crore) in a funding round led by Temasek, with super pro-rata participation from General Atlantic, Tiger Global, and Softbank Vision Fund. The latest fundraise takes the valuation of Unacademy Group to USD 3.44 billion (Rs 25,600 crore), it said in a statement. The Series H funding round also witnessed participation from Aroa Ventures, the family office of OYO Founder Ritesh Agarwal, and Deepinder Goyal, Co-Founder and CEO at Zomato. Some angel investors of Unacademy have exited in this round, it said.
Over the last 18 months, the valuation of the Unacademy Group has risen almost 10X, one of the fastest growth rates witnessed by a mid-stage consumer internet startup in India, the statement said. The latest round follows one in January 2021 when Tiger Global, Dragoneer Investment Group, Steadview Capital and General Atlantic doubled down on their earlier investments through a secondary transaction, it was stated.
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Unacademy was founded by Gaurav Munjal, Roman Saini, and Hemesh Singh in 2015. It was started as a YouTube channel by Gaurav Munjal in 2010. Headquartered in Bengaluru, Unacademy has over 50,000 registered educators and more than 4.9 crore learners. According to an estimate, the group has over 48,000 educators teaching in over 14 Indian languages, and learners spread across 5,000 cities. Over 1,50,000 live classes are conducted on the platform each month.
The Unacademy Group consists of Unacademy, PrepLadder, Mastree, CodeChef, Graphy, and Relevel. It is backed by investors such as Tiger Global, Dragoneer Investment Group, SoftBank Vision Fund 2, Facebook, General Atlantic, Sequoia India, SAIF Partners, Nexus Venture Partners, Steadview Capital, and Blume Ventures. (With PTI Inputs)
