Unacademy raises $440 million from Temasek, Softbank Vision Fund
Manjil Das, INN/Chennai
Twitter-@SGiggle29 @Infodeaofficial
In a fundraising round headed by Temasek, Unacademy raised $440 million, valuing the company at $3.44 billion, the company said on Monday, August 2. As part of the Series H investment round, General Atlantic, Tiger Global, and Softbank Vision Fund participated.
Unacademy Group’s worth has more than doubled in the previous 18 months, making it one of the fastest-growing consumer internet start-ups in India, the firm stated in a statement.
An expanding network of over 50,000 registered educators and over 62 million learners in 14 Indian languages across 5,000 cities is reported to exist at Unacademy, founded in 2015 by Gaurav Munjal, Hemesh Singh, and Roman Saini.
Zomato’s co-founder and CEO, Deepinder Goyal, also participated in the Series H investment round. During this round, Unacademy’s angel investors exited.
Tiger Global, Dragoneer Investment Group, Steadview Capital, and General Atlantic made a second investment round in January.
Unacademy revealed late last month that it had purchased the gaming streaming network Rheo TV, which had been in operation since 2007.
It’s a platform that enables professional game broadcasters to webcast and monetize their broadcasts.
Unacademy bought TapChief in February for a worth of Rs 100 crore.
For $50 million, Unacademy purchased PrepLadder, a renowned platform for preparing for postgraduate medical admission examinations (approx. Rs 112.3 crore).
In Unacademy’s view, the purchase would increase its position in medical entrance test categories. Unacademy also bought Kreatryx and CodeChef.
“As a result of our constant efforts, Unacademy’s subscriber base has grown at an exponential rate. When PrepLadder joins Unacademy, I am looking forward to working with them. ” According to Unacademy’s Co-Founder and CEO, Gaurav Munjal.
