The co-founder and chief technology officer of Unacademy, Hemesh Singh has recently decided to quit after serving almost a decade at the Bengaluru-based edtech firm. He will now transition into an advisory role.

Expressing about his gratitude for developing his career goals, Hemesh wrote on social media platform 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.”

Unacademy is an Indian multinational educational technology company which was established in 2015, by Hemesh Singh,  Gaurav Munjal and Roman Saini.

During the last August,the managerial board of Unacademy promoted Sumit Jain to co-founder. He currently leads Graphy division of Unacademy.

This is the third high profile exit for Unacademy in the past 12 months. During the August 2023, the firm’s chief operating officer Vivek Sinha resigned while its chief financial officer (CFO) Subramanian Ramachandran quit the firm in November. Later, Sinha launched his new startup called Beyond Odds Technologies and raised $11 million led by Matrix Partners India and Lightspeed in April this year.

During January 2024, the ed-tech unicorn Unacademy appointed Pratik Dalal as the chief financial officer (CFO) of its offline centers business.

Unacademy completed its most recent equity funding round of $440 million, with Temasek as the lead investor, valuing the company at $3.44 billion in August 2021. Following this, the company underwent significant changes including staff reductions, closure of acquired divisions, and the establishment of multiple physical locations. Recently, Unacademy expanded its services to include language learning through a new application. In the last December, Munjal announced that the company holds Rs 1,800 crore in reserves and has a financial runway of four years. He also mentioned that the runway is expected to extend to eight years next year due to further reduction in operational expenses.

His claim can be validated through the financials of the company in FY23. During the fiscal year, Unacademy recorded a 26% jump in its operating revenue to 907 crore while controlling losses by nearly 40% to 1,004 core. In the beginning of FY24, the company also claimed that it was close to profitability at the group level. The firm is yet to file its audited financial statements for FY24.