Unacademy, India’s edtech unicorn bags undisclosed sum from Tiger Global & Dragoneer

Unacademy, India's edtech unicorn bags undisclosed sum from Tiger Global & Dragoneer
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Featured image: Unacademy co-founders; Roman Saini (L), Gaurav Munjal, and Hemesh Singh

Bengaluru, India-based edtech unicorn startup Unacademy, on Wednesday, raised an undisclosed sum from Tiger Global and Dragoneer Investment Group; with participation from existing backers including Facebook, Sequoia Capital and Nexus Venture Partners.

The latest funding round has valued Unacademy at $1.45 billion, but Gaurav Munjal, the CEO of Unacademy in a tweet claimed that the company currently stands at a valuation of $2 billion.

This is the third funding round for Unacademy in 2020, the first one was the Series E of $110 million in February, from Facebook, General Atlantic and Sequoia; and the second one was the Series F of $150 million in September from Softbank Vision Fund. Also, Unacademy made two successful acquisitions this year; the first one was the edtech startup Kreatryx, in April; and the second one was the programming platform CodeChef, in June.

Speaking of the development for Unacademy, Scott Shleifer, Partner at Tiger Global, in a statement said,

“The opportunity to improve lives through online education is enormous because of its sheer accessibility. The Unacademy team has innovated rapidly to build a leading platform that is taking education to the farthest corners of India.”

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