Unacademy Group, an Edtech major, has raised $440 Million as part of its most recent round of funding. The round was led by Temasek Holdings in Singapore, which valued the startup at $3.44 Billion. The round also saw participation from SoftBank General Atlantic and Tiger Global. Mirae Asset and Oyo's Ritesh Agarwal, zomato founder Deepinder Goyal, also participated in the round.
Gaurav Munjal, co-founder and CEO at Unacademy stated that the proceeds would be used to scale Unacademy's three products, including newly launched Relevel and Graphy. Relevel is a job search tool that helps anyone get the job they want, regardless of their education. Graphy allows creators to create online businesses and sell digital goods.
According to research it was found that Unacademy co-founders Gaurav Munjal and Roman Saini still hold around 15% of the company. The largest institutional stakeholder of the company are Sequoia Capital and Nexus Venture Partners, SoftBank, and General Atlantic, which hold 12.7%, 12.8%, and 10.5%, respectively. Temasek, who was the main investor in the new round, has now acquired 4.38% of the company's stock. Tiger Global holds 4.24%. Blume Ventures (formerly SAIF Partners), and Elevation Capital (formerly SAIF Partners), were early backers of Unacademy and retain a nearly 5% and 3.4% share, respectively.
Unacademy also recently announced the acquisition TapChief (a professional networking platform) in a deal that will enable the unicorn edtech company to enter a new market segment: preparing students for job opportunities.
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Unacademy has also been on an acquisition spree following the lead of arch-rival Byju. Since January 2020, the Tiger Global-backed company acquired nine companies, three of which were just this year. Although most of these acquisitions were relatively small, they were absorbed well at the group level. However, Mastree in July 2020 was one of its acquisitions.
Unacademy Founders - Unacademy is an Indian educational technology company based in Bangalore. The company was originally started as a YouTube channel by Gaurav Munjal in 2010. It was later founded by Roman Saini, Munjal and Hemesh Sing in 2015.
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