7th September 2020 | Mumbai | Investment Banking
Unacademy, India’s leading learning platform, has raised an investment of USD 150 million led by SoftBank Vision Fund 2. Existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners, Facebook and Blume Ventures also participated in the fund raise. The latest funding round values Unacademy at USD 1.45 billion.
Avendus Capital acted as advisor to Unacademy on managing the transaction process for the round.
Unacademy is the largest learning platform in India with a vast network of 18,000+ educators and over 350,000+ subscribers. The company caters to the learning needs for 35+ competitive exams, besides important life goals such as Chess. Unacademy plans to utilise the funds to launch new products and build a world class team and organisation.
“Learning from the best experts to achieve a life goal has mostly been a privilege available only to those living in the top few cities of the country. At Unacademy, we are breaking that barrier and helping people achieve their life's most important goals, by giving them access to the best coaching from experts in the field. We are delighted to welcome SoftBank as a partner to that vision. We started with test preparation and with this partnership, we will launch other goals on our platform,” said Gaurav Munjal, Co-Founder and CEO, Unacademy.
“By bringing quality education to a vast network of students for the first time, Unacademy is bridging the privilege gap in India,” said Munish Varma, Managing Partner at SoftBank Investment Advisers. “We are happy to partner them in their journey of helping students from all backgrounds succeed in the future.”
Sumer Juneja, Partner for SoftBank Investment Advisers, added, “We have been closely tracking Unacademy for the last 18 months and have been impressed by their growth, quality of product and consumer engagement. They are truly democratizing education in India and we look forward to helping them scale even further.”
Avendus Group is a leading financial services firm with presence in the areas of Investment Banking, Wealth Management, Credit Solutions and Asset Management. Established in 1999 in Mumbai, India, Avendus is today present in 10 cities across India, US, UK and Singapore. Avendus partners with the Indian entrepreneur ecosystem to provide differentiated solutions that enable clients to meet their strategic aspirations.
Avendus Capital, the investment banking arm, is consistently ranked among the top investment banks in the country on the back of its in-depth domain understanding and a best in the class track record of domestic and cross-border transactions. Avendus’s wide range of clients is testimony to its ability to serve its corporates throughout their life cycle – from growth stage funding to large-sized transactions, and M&A advisory.
Avendus Capital Inc located in New York is an Avendus Group entity offering M&A and Private Equity syndication services to clients in the US.
For more information, please visit www.avendus.com