upGrad acquires Unacademy

● STRATEGIC | EDUCATION

SEPTEMBER 1, 2026

upGrad acquires Unacademy

TARGET

Competitive exam prep and live-tutoring platform serving Indian students preparing for UPSC, NEET, IIT-JEE, and banking exams via live classes, recorded courses, and test series.

Revenue	₹4 billion (~$42.13M) annually
Ownership	VC-backed
Investors	SoftBank, Tiger Global, General Atlantic
Capital raised	~$880M
Headcount	~1,000 FTEs
Headquarters	Bengaluru, India
Leadership	Gaurav Munjal, co-founder and CEO
Sell-side advisor	—

ACQUIRER

upGrad

Online higher education and upskilling platform offering degree, diploma, and certification programs in partnership with universities, serving working professionals and students across India and globally.

Deal value	$206M valuation
Ownership	VC-backed
Investors	Temasek Holdings, International Finance Corporation, IIFL, ETS Global, Bodhi Tree (Lupa Systems / James Murdoch & Uday Shankar), 360 ONE +1 more
Capital raised	~$767M
Headcount	4,000 FTEs
Headquarters	Mumbai, India
Buy-side advisor	—

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upGrad -> Unacademy  (2026-09-04)
strategic_acquisition | Education | $206M valuation | closed
Target: Competitive exam prep and live-tutoring platform serving Indian students preparing for UPSC, NEET, IIT-JEE, and banking exams via live classes, recorded courses, and test series.
Website: unacademy.com | Buyer site: upgrad.com
HQ: Bengaluru, India | Ownership: vc-backed | Buyer ownership: vc-backed
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/upgrad-unacademy.html

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