Edtech firm Unacademy raises $440 million in fresh funding at $3.44 billion valuation

Edtech firm Unacademy raises $440 million in fresh funding at $3.44 billion valuation

Bengaluru: Online learning platform Unacademy on Monday 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, 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.

Founded in 2015 by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy has a growing network of more than 50,000 registered educators and over 62 million learners, in 14 Indian languages across 5,000 cities.

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.

Late last month, Unacademy announced that it has acquired game streaming platform Rheo TV. Rheo TV is a platform that helps professional game streamers livestream their gameplays and monetise those feeds.

In February, Unacademy acquired TapChief, a professional networking and "future-of-work" platform, at a valuation of Rs 100 crore.

(With PTI and IANS inputs)

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