Unacademy names Sumit Jain CEO of Test Prep division
Jain, who also co-founded and leads Unacademy subsidiary Graphy, has been with the company since 2020 after the acquisition of his startup Opentalk.
Edtech unicorn has appointed Sumit Jain as the new Chief Executive Officer of its flagship Test Prep business, co-founder Gaurav Munjal announced on X on September 24.
Jain, who also co-founded and leads Unacademy's subsidiary Graphy, has been with the company since 2020 after the acquisition of his startup Opentalk. He earlier co-founded real estate platform CommonFloor.
“I have known Sumit since 12 years when he was the CEO of CommonFloor and he acquired my first company Flatchat. Sumit joined us as Co-Founder in 2020 and has been instrumental in significantly improving the Unit Economics of our Test Prep Business and more importantly the Learner Experience,” Munjal said in his post.
The leadership transition comes as Munjal and fellow co-founder Roman Saini are reported to be stepping back from day-to-day operations to focus on their new venture, AirLearn. Hemesh Singh, the third co-founder, exited the company in 2024.
Unacademy has also been diversifying beyond its core test prep vertical. In June 2024, the company launched its language learning app Airlearn (formerly Unacademy Languages) in India, starting with Spanish and with plans to add French, German, and Indian languages.
The app, positioned against global players such as Duolingo and Babbel, has grown to nearly 70,000 daily active users and $2 million in annual recurring revenue, according to Munjal.
As for its financials, the Bengaluru-based firm narrowed its consolidated loss to Rs 630.9 crore in FY24, a 62.4% drop from Rs 1,678.1 crore in FY23, aided by a 40.5% reduction in expenses to Rs 1,627 crore. However, operating revenue fell 7.4% year-on-year to Rs 839.8 crore as the company shifted focus to offline operations amid weakening online test prep demand.
Edited by Affirunisa Kankudti