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Bengaluru-based Unacademy raises new funds from Tiger Global Management and Dragoneer Investment Group – Business News , Firstpost



Unacademy raises new funds for the third time this 12 months taking its valuation to $2 billion.

Unacademy, a web-based Indian schooling platform, has raised a confidential quantity of funding in a new spherical from Tiger Global Management and Dragoneer Investment Group taking the corporate’s valuation to $2 billion. This is the third time the corporate’s fundraising and valuation have elevated. The firm was based by Gaurav Munjal, Roman Saini and Hemesh Singh in 2015, however initially, it was a Youtube channel began in 2010 by Gaurav Munjal.

Unacadamey’s first spherical of funds got here in February when it raised $110 million from Facebook, General Atlantic and others, bringing its valuation to $510 million. The second got here two months in the past in September 2020, when it raised one other $150 million in a spherical led by SoftBank valuing it at $1.45 billion.

The platform has over 47,000 educators who train in additional than 14 languages unfold throughout 5000 cities. Over 1,500 reside courses are performed each day and greater than 3.2 billion minutes have been watched with over 2 million views every month, reviews Unacademy in its weblog.

“Our mission from Day One has been to democratise education and make it more affordable and accessible. We have consistently built the most iconic products that deliver high quality education to everyone. Today, I’m delighted to welcome Tiger Global and Dragoneer as our partners in the journey. They are both marquee global investors with a history of partnering with innovative companies that are making an impact on people’s lives,” mentioned Gaurav Munjal, co-founder and chief government of Unacademy mentioned in a weblog publish.

“The alternative to enhance lives by way of on-line schooling is gigantic due to its sheer accessibility. The Unacademy crew has innovated quickly to construct a number one platform that’s taking schooling to the farthest corners of India. We are very excited to associate with Unacademy and look ahead to seeing it scale additional,” mentioned Scott Shleifer, Partner at Tiger Global, in an announcement.

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