Unacademy closes $50 million secondary share sale

BENGALURU: Ed-tech startup

Unacademy

, which was recently valued at $2 billion, said its top investors

Tiger Global

, Dragoneer Investment Group, Steadview Capital and

General Atlantic

have bought another $50 million worth of shares in the firm from existing

investors

through a secondary share sale.


The Facebook-backed firm did not disclose which investors had sold their shares to the above-mentioned investors.

In a secondary share sale, the money does not come to the company but goes to the investors selling their stake.

In November, Unacademy raised around $100 million in capital from Tiger and Dragoneer with its valuation jumping by over 40% to $2 billion.

It counts

SoftBank

among its investors which led a $150 million funding round last year putting it in the unicorn club, startups valued at $1 billion or more.