CIOReviewIndia Team | Thursday, 26 November 2020, 03:59 IST
By adding two more marquee investors to its cap tale, Unacademy has raised new funds from Tiger Global Management and Dragoneer Investment Group to focus more on K-12 online education. This four-and-a-half-old startup is currently valued at USD 2 Billion compared to about USD 500 in the month of February. This significant increase has been witnessed as Facebook joins its lists of investors in the month of September.
“Our mission from Day One has been to democratise education and make it more affordable and accessible. We have consistently built the most iconic products that deliver high quality education to everyone. Today, I’m delighted to welcome Tiger Global and Dragoneer as our partners in the journey. They are both marquee global investors with a history of partnering with innovative companies that are making an impact on people’s lives,” said Gaurav Munjal, co-founder and chief executive of Unacademy, in a statement.
In more than 14 languages, the platform has amassed over 47,000 educators, who teach students in 5,000 cities in India. As schools remain shut across the country amid the coronavirus pandemic, scores of education startups in India have reported skyrocketing growth in recent months.
“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.
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