Unacademy elevates co-founder Sumit Jain to CEO - Test Prep Business
The move comes four months after co-founder Gaurav Munjal stepped down from his operational responsibilities.
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Indian edtech unicorn Unacademy has appointed co-founder Sumit Jain as the chief executive officer of its test preparation business, according to a report by Moneycontrol. The move comes four months after co-founder Gaurav Munjal stepped down from his operational responsibilities.
Unacademy’s other co-founder, Roman Saini, had also stepped down alongside Munjal, effectively making Jain the sole executive overseeing the company's operations.
The leadership changes come amid a period of internal upheaval. In May it had been reported that, since 2022, Unacademy had grappled with significant operational and financial strain, including layoffs impacting over 1,300 employees across technology, leadership, and content divisions. The exits of key senior leaders such as COO Vivek Sinha and CFO Subramaniam Ramachandran in 2023 further signaled deeper instability within the company.
Despite being backed by prominent investors—including Facebook, Sequoia Capital (now Peak XV Partners), and General Atlantic—Unacademy has struggled to raise fresh capital since its last funding round in August 2021.
In December 2023, Munjal publicly stated that Unacademy had reduced its cash burn by 60%, claiming the company had secured enough runway to last over four years. Earlier in 2024, he also tweeted that Unacademy was on track for its "best year yet."
However, in a sign of strategic consolidation, the company has quietly wound down most of the 12 acquisitions it made during the 2020 edtech boom. It has now narrowed its focus to just two or three core ventures, excluding its former flagship—the online test prep vertical.
Jain began his career at Pragmatum Training, and then worked across Oracle India, Opentalk, and Graphy.
