Unacademy’s co-founder Hemesh Singh has stepped down as the chief technology officer and will move into an advisory role.
Founded in 2015 by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy connects educators and learners in various streams for skill improvement by offering various courses. The company makes money from subscriptions of online and offline learning.
“After almost a decade of building Unacademy with @gauravmunjal and @romansaini, I have decided to move from an Executive Role to an Advisory Role,” Singh said in the post on X.
“It has been a wonderful ride and I am extremely grateful to have been a part of this journey. We did change the Test Prep Industry for good. What a crazy journey it has been! Thanks a lot @gauravmunjal for everything,” he added.
SoftBank-backed edtech unicorn changed the goals for Munjal and Singh to access additional voting rights through bonus shares issued to them in 2022.
Munjal and Singh will get access to additional voting rights if the company forms a committee by March 2025 to work on its initial public offering, according to reports.
Unacademy has also seen a bevy of top-level exits, including chief operating officer Vivek Sinha and chief finance officer (CFO) Subramanian Ramachandran. However, the company has been steadily roping in new faces to fill the vacancies. Last month, it appointed Pratik Dalal as the CFO of its offline business.
Edtech unicorn Unacademy operating revenue grew to ₹907 crore in FY23 from ₹719 crore in FY22, according to reports.