This round of funding pegs the pre-funding valuation of Unacademy at around $3.2 billion, while the final may go above $3.5 billion, depending on the amount raised
Ed-tech unicorn Unacademy is in advanced discussions to get Temasek as a backer for its new round of funding. This comes after Unacademy had roped in social networking giant Facebook and Japan’s SoftBank Vision Fund last year.
Unacademy had accelerated its campaign with a plan to raise anywhere between $300-400 million, as it is looking at acquisitions for further growth. This round of funding pegs the pre-funding valuation of Unacademy at around $3.2 billion, while the final may go above $3.5 billion, depending on the amount raised. That would be an increase of 60-75% in post-money valuation in less than six months. After raising funds from US-based Tiger Management Global and Dragoneer Investment Group, Unacademy was valued at close to $2 billion in November last year.
With the pandemic-induced work from home environment, ed-tech companies are witnessing a boom in the funding space, with Indian and foreign investors both willing to invest in this vertical.
Source: Business World
