Bengaluru-based learning platform Unacademy has raised an investment round from Tiger Global Management and Dragoneer Investment Group, which values Unacademy at $2 billion.
The latest fund raise follows a round in September when the company raised $150 million led by SoftBank Vision Fund 2. At that time, Unacademy was valued at $1.45 billion.
The company has more than 47,000 educators, teaching in over 14 Indian languages, and students spread across 5,000 cities. More than 150,000 live classes are conducted on the platform each month.
Unacademy co-founder and chief executive Gaurav Munjal said: “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 delivers high-quality education to everyone. 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.”
Scott Shleifer, partner at Tiger Global, added: “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. We are very excited to partner with Unacademy and look forward to seeing it scale further.”
Date published: 30 November 2020