 "Unacademy founders, Roman Saini")
Adding to the list of phenomenal edtech fund-raises this year, Unacademy has raised a fresh undisclosed investment from Tiger Global Management and US-based Dragoneer Investment Group.
The company didn't disclose the funding amount, but said it values Unacademy at $2 billion. The latest fund-raise follows a round in September when it raised $150 million, led by SoftBank Vision Fund 2. At that time, Unacademy's valuation had trebled to $1.45 billion in six months and became the second-most valued edtech start-up, after Byju’s - which is valued at $10.5 billion.
“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,” said Gaurav Munjal, co-founder and chief executive officer (CEO), Unacademy, adding, “I am 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 making an impact on people’s lives.”
The start-up was founded by Gaurav Munjal, Roman Saini, and Hemesh Singh in 2015, initially on YouTube in 2010. It has become one of the largest learning platforms, with over 47,000 educators teaching in over 14 Indian languages, and learners spread across 5,000 cities. Over 150,000 live classes are conducted on the platform each month. The collective watch time across platforms is over 2 billion minutes per month.
“The opportunity to improve lives through online education is enormous because of its sheer accessibility,” said Scott Shleifer, partner at Tiger Global, adding, “The Unacademy team has innovated rapidly to build a leading platform that is taking education to the farthest corners of India. We are very excited to partner with Unacademy and look forward to seeing it scale up further.”
The company didn't disclose the funding amount, but said it values Unacademy at $2 billion. The latest fund-raise follows a round in September when it raised $150 million, led by SoftBank Vision Fund 2. At that time, Unacademy's valuation had trebled to $1.45 billion in six months and became the second-most valued edtech start-up, after Byju’s - which is valued at $10.5 billion.
“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,” said Gaurav Munjal, co-founder and chief executive officer (CEO), Unacademy, adding, “I am 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 making an impact on people’s lives.”
The start-up was founded by Gaurav Munjal, Roman Saini, and Hemesh Singh in 2015, initially on YouTube in 2010. It has become one of the largest learning platforms, with over 47,000 educators teaching in over 14 Indian languages, and learners spread across 5,000 cities. Over 150,000 live classes are conducted on the platform each month. The collective watch time across platforms is over 2 billion minutes per month.
“The opportunity to improve lives through online education is enormous because of its sheer accessibility,” said Scott Shleifer, partner at Tiger Global, adding, “The Unacademy team has innovated rapidly to build a leading platform that is taking education to the farthest corners of India. We are very excited to partner with Unacademy and look forward to seeing it scale up further.”
