Bengaluru-based Unacademy raises new funds from Tiger Global Management and Dragoneer Investment Group

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

TechSamvad November 26, 2020 13:35:40 IST
Bengaluru-based Unacademy raises new funds from Tiger Global Management and Dragoneer Investment Group

Unacademy logo

Unacademy, an online Indian education platform, has raised a confidential amount of funding in a new round from Tiger Global Management and Dragoneer Investment Group taking the company’s valuation to $2 billion. This is the third time the company’s fundraising and valuation have increased. The company was founded by Gaurav Munjal, Roman Saini and Hemesh Singh in 2015, but originally, it was a Youtube channel started in 2010 by Gaurav Munjal.

Unacadamey's first round of funds came in February when it raised $110 million from Facebook, General Atlantic and others, bringing its valuation to $510 million. The second came two months ago in September 2020, when it raised another $150 million in a round led by SoftBank valuing it at $1.45 billion.

The platform has over 47,000 educators who teach in more than 14 languages spread across 5000 cities. Over 1,500 live classes are conducted daily and more than 3.2 billion minutes have been watched with over 2 million views each month, reports Unacademy in its blog.

“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,” said Gaurav Munjal, co-founder and chief executive of Unacademy said in a blog post.

“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," said Scott Shleifer, Partner at Tiger Global, in a statement.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

JEE, NEET board exams 2021 will be set based on reduced syllabus, says Ramesh Pokhriyal
India

JEE, NEET board exams 2021 will be set based on reduced syllabus, says Ramesh Pokhriyal

During a webinar, the Union education minister said CBSE students will also only have to study the revised syllabus. The syllabus was revised due to disruptions caused by COVID-19 pandemic

Education Ministry removes 75% marks in Class 12 as eligibility criteria for NITs, IIITs; admission to be based on JEE-Mains
India

Education Ministry removes 75% marks in Class 12 as eligibility criteria for NITs, IIITs; admission to be based on JEE-Mains

Earlier, along with the performance in JEE-Mains, NITs used to demand either 75% mark in the board exams or a place in the top 20 percentile of their respective boards

Goa board says Class 9, 11 exams to be conducted in schools by 24 April
India

Goa board says Class 9, 11 exams to be conducted in schools by 24 April

In a circular, the board said the exams for classes 9 and 11 should be held so that schools can provide infrastructure and manpower for the conduct of the board exams, which are slated to begin from 26 April