Edtech platform Unacademy, backed by Facebook and Sequoia, on Tuesday said that it led a strategic investment of $5 million to acquire a majority stake in Mastree, a leading K12 learning platform. This investment will further strengthen Unacademy’s presence in the K12 learning space.
In addition to the investment, Unacademy has provided venture fund Blume Ventures an exit, the company said in a statement.
With this investment, Mastree will join the Unacademy Group, which consists of Wifistudy, Kreatryx, CodeChef and PrepLadder. Just last week, Unacademy acquired PrepLadder, a postgraduate medical entrance exam preparation platform, for $50 million.
All these investments and acquisitions are in alignment with Unacademy’s aim of making education accessible and affordable to all, by working towards building the world’s biggest education platform.
Mr. Chander Sawhney
Partner & Head-Valuation and Biz Modeling