Tiger Global, others buy stake in Unacademy
Unacademy has concluded a new secondary transaction round in which Tiger Global, Dragoneer Investment Group, Steadview Capital and General Atlantic have increased their stake in the company
New Delhi: Edtech platform Unacademy on Wednesday said Tiger Global, Dragoneer Investment Group, Steadview Capital and General Atlantic have bought shares worth USD 50 million in the company from its existing investors.
Unacademy has concluded a new secondary transaction round in which Tiger Global, Dragoneer Investment Group, Steadview Capital and General Atlantic have increased their stake in the company, a statement said. “As part of the round, the investors have acquired additional shares worth $50 million, doubling down on their investment and conviction in the Unacademy Group’s growth trajectory and future prospects,” it added.
It did not disclose details of the sellers of the shares. The latest transaction follows a round in November 2020 when Tiger Global and Dragoneer Investment Group had invested an undisclosed amount in Unacademy, valuing the company at $2 billion.
Unacademy Group has over 48,000 educators teaching in over 14 Indian languages, and learners spread across 5,000 cities. Over 1,50,000 live classes are conducted on the platform each month. Unacademy Group consists of Unacademy, PrepLadder, Mastree, CodeChef, and Graphy. The company is backed by investors including SoftBank Vision Fund 2, Facebook, Sequoia India, SAIF Partners, Nexus Venture Partners and Blume Ventures.
