Unacademy’s losses down 40% in FY23, revenue grows 26%
Ed tech company Unacademy's losses decreased by about 40 per cent in FY23, as its revenue grew at 26 per cent in the fiscal year ending March 2023.
Online learning platform Unacademy on Monday said it has raised $440 million in a funding round led by Temasek, at a valuation of $3.44 billion.
The Series H funding round also saw participation from General Atlantic, Tiger Global and Softbank Vision Fund.
Over the last 18 months, the valuation of the Unacademy Group has risen almost 10 times, one of the fastest growth rates witnessed by a mid-stage consumer internet startup in India, the company said in a statement.
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Founded in 2015 by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy has a growing network of more than 50,000 registered educators and over 62 million learners, in 14 Indian languages across 5,000 cities.
The Series H funding round also witnessed participation from Aroa Ventures, the family office of OYO Founder Ritesh Agarwal, and Deepinder Goyal, Co-Founder and CEO at Zomato. Some angel investors of Unacademy have exited in this round.
The latest round follows one in January when Tiger Global, Dragoneer Investment Group, Steadview Capital and General Atlantic doubled down on their earlier investments through a secondary transaction.
Late last month, Unacademy announced that it has acquired game streaming platform Rheo TV.
Rheo TV is a platform that helps professional game streamers livestream their gameplays and monetise those feeds.
In February, Unacademy acquired TapChief, a professional networking and “future-of-work” platform, at a valuation of Rs 100 crore.
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