Facebook’s follow-on investment in Unacademy

J.Sagar Associates (JSA) advised Facebook, Inc. (Facebook) in relation to its follow-on investment in Sorting Hat Technologies Private Limited (Unacademy) as part of the Series F financing round. The round was led by incoming investor SoftBank(Vision Fund); and other existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners and Blume Ventures also participated in the funding round, pursuant to which, Unacademy raised an amount of approx. USD 150 million.

Founded in 2015, Unacademy is as an online education platform, with educators creating educational videos and conducting interactive classes for various examinations.

The deal values the company, reportedly, at approx. USD 1.45 billion.

JSA Team comprised Joint Managing Partner–Vivek K. Chandy; Partner – Rishabh Gupta, Principal Associate – Pooranimaa Hariharan; and Associate–Sudipto Mitra.

Fenwick & West LLP was the US counsel for Facebook.