Online learning platform Unacademy has raised $440 million in a new financing round with Temasek leading the Series H round with participation from Mirae Asset and existing investors including SoftBank Vision Fund 2, General Atlantic, Tiger Global as well as Deepinder Goyal of Zomato and Oyo’s Ritesh Agarwal.
The new round values the six-year-old startup at $3.44 Bn up from $2 Bn in November last year. The investment brings Unacademy’s to-date raise to about $860 million.
Gaurav Munjal, Unacademy Co-founder and Chief Executive stated that the startup will deploy the fresh capital to broaden its bets on new categories such as upskilling, jobs and hiring.
The funding will be used to build new lines of business in segments such as jobs and hiring, where it will compete with the likes of Naukri.com and Linkedin. It will also launch creator-led short courses and scale existing businesses such as test preparation and K-12 coaching (from Kindergarten to Class XII).
Last September, it had entered into the unicorn club as the company raised $150 Mn in funding led by Japan’s SoftBank, tripling its valuation to $1.45 Bn in less than six months. Early this year, it acquired majority stakes in the Bengaluru based online platform for professionals Tapchief which will enable it to move forward with their plan to create more job opportunities for the professionals.