Series H round was led by Temasek, with Softbank Vision Fund, Tiger Global, General Atlantic, and Mirae Asset also participating
Valuation of Unacademy Group stands at $3.44 billion, a nearly 10X jump in 18 months
Bengaluru, NFAPost:Unacademy, India’s largest learning platform, announced it has raised $440 million 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 $3.44 billion.
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.
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 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.
Unacademy was founded by Gaurav Munjal, Hemesh Singh, and Roman Saini in 2015. Started as a YouTube channel by Gaurav Munjal in 2010, Unacademy is India’s largest learning platform with a growing network of 50,000+ registered Educators and over 62 million Learners.
With education being imparted in 14 Indian languages to learners across 5,000 cities, Unacademy is changing the way India learns. Unacademy Group comprises Unacademy, Graphy, Relevel and CodeChef.
Unacademy had announced in last year November raising fund from Tiger Global Management and Dragoneer Investment Group For $2 billion valuation.
November funding was preceded by another round in September 2020 when the company raised an investment of $150 Million in a round led by SoftBank Vision Fund 2. At that time, Unacademy was valued at $1.45 Billion.
Unacademy recently announced the acquisition of Rheo TV, a platform that helps professional game streamers livestream their gameplays and monetize those feeds. As part of the deal, Unacademy will fully acquire Rheo TV, and enable the exit of all existing investors.
The company also entered into a Memorandum of Understanding (MoU) with the Karnataka Department of Collegiate & Technical Education (DCTE) to conduct a series of aptitude and scholarship tests in the state.