Unacademy valuation soars to $2 billion as the edtech startup raises more funds from Tiger Global and Dragoneer Investment Group

Unacademy valuation soars to $2 billion as the edtech startup raises more funds from Tiger Global and Dragoneer Investment Group

• Unacademy has raised an undisclosed amount of funding from Tiger Global Management and Dragoneer Investment Group.
• With the latest investment, the edtech unicorn’s valuation has soared to $2 billion.
• In September, the five-year-old startup had entered the unicorn club with a $150 million cheque from SoftBank.

Adding on to the list of phenomenal edtech fundraises this year, Unacademy has raised an undisclosed amount of funding from Tiger Global Management and the US-based Dragoneer Investment Group.

With the latest investment, the edtech unicorn’s valuation has soared to $2 billion.

“Our mission from Day One has been to democratize 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 CEO, Unacademy, in a statement.

In September, the five-year-old startup had entered the unicorn club with a $150 million cheque from SoftBank. Unacademy had also raised funding from Facebook in February, the social media giant’s second direct investment in India.

The startup is also backed by Sequoia India, Nexus Venture Partners, Steadview Capital and Blume Ventures, and individual investors Kalyan Krishnamurthy, CEO, Flipkart and Sujeet Kumar, co-founder, Udaan.

“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.

The startup was also one of the official sponsors of the Indian Premier League.

Source: BusinessInsider