Unacademy Co-founders Resign To Shift Focus On AirLearn, New CEO Appointed

unacademy cofounder Gaurav Munjal is stepping down as CEO, and board member Sumit Jain will take over, as reported by the media reports.

This change comes as the company goes through internal restructuring, a failed acquisition, and shifts its focus to its language-learning platform, AirLearn.

Cofounder Roman Saini is also leaving daily operations, following Hemesh Singh, who exited in June 2024. The trio had started Unacademy as a YouTube channel almost ten years ago.

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Unacademy has been slowly shifting from online test prep to offline coaching, which needs more investment. But this change hasn’t been easy, especially with India’s edtech sector slowing down after the pandemic. Reports say Gaurav Munjal wasn’t keen on running an offline coaching business, which led the board to agree on his exit.

New CEO Sumit Jain joined Unacademy in 2020 after it bought his startup Opentalk. He’s an experienced entrepreneur who also founded the real estate platform Commonfloor, later acquired by Quikr in 2016.

Unacademy has raised a total of $880 million so far. Its last funding round was in August 2021, when it raised $440 million. The round was led by Singapore’s Temasek and included investors like Tiger Global, Dragoneer, Mirae Asset Venture, and others.

In FY24, Unacademy earned Rs 840 crore in revenue, which was 7% less than the previous year. However, its net loss dropped to Rs 631 crore — a 62% improvement from FY23 — helped by cost-cutting efforts and layoffs.

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