Unacademy Startup Funding News, Acquisitions and Updates

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Unacademy Startup Funding News, Acquisitions and
Updates
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.
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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. You may also
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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.