While Byju’s mopped up about $1.2 billion in total funding in 2020, Unacademy has cornered close to $350 million across three rounds. Last week, the Gaurav Munjal-led firm had announced to receive an undisclosed round from Tiger Global and Dragoneer.
Fintrackr has decoded Unacademy’s Series G round by analysing regulatory filings. Tiger Global led the round with Rs 413.25 crore followed by DF international which pumped in Rs 73.5 crore, regulatory filings show.
Softbank (Darwin), General Atlantic, Steadview and Sequoia have invested Rs 52.61 crore, Rs 45 crore, Rs 37.6 crore and Rs 15 crore, respectively. Unacademy has allotted 200 equity shares along with 3,343 Series G at an issue price of Rs 189,911 and Rs 18,99,110 to raise Rs 638.7 crore.
This year has turned out to be an exceptional year for Unacademy in several aspects. Besides raising back to back rounds, it acquired five startups Coursavy, PrepLadder, Mastree, CodeChef and Kreatryx and launched a new product Graphy with a separate founding team.
Post this transaction, Tiger Global holds 2.84% stake in Unacademy whereas DF International’s equity stood at 0.5%. Existing backers General Atlantic and SoftBank have 8.57% and 8.23% holding respectively in the Bengaluru-based edtech unicorn.
As per Fintrackr estimations, the post-money valuation of Unacademy has jumped to Rs 14,700 crore or 2.01 billion from $1.45 billion in the previous round.
Unacademy claims to have 30 million registered users, 350,000 paid subscribers and over 18,000 registered educators on the platform. Since India has seen a surge in demand for online learning solutions during the pandemic, the company looks set to continue with its growth story.