Edtech

Jagnoor Singh Steps Down as COO of Unacademy: Report

• ByStartupStory     |    July 16, 2024

Jagnoor Singh, the Chief Operating Officer (COO) of edtech unicorn Unacademy, has decided to step down from his role. Co-Founder Gaurav Munjal, along with newly promoted partner Sumit Jain, will take over the management of offline business operations, according to a report by Inc42.

Singh will serve his notice period and undergo a six-month transition phase. The company does not plan to hire a replacement for him. Before joining the Peak XV-backed firm, Singh held positions at Airtel and OYO.

This development follows the resignation of Hemesh Singh, Unacademy’s co-founder and former Chief Technology Officer (CTO), who transitioned into an advisory role last month. “After almost a decade of building Unacademy with Gaurav Munjal and Roman Saini, I have decided to move from an executive role to an advisory role,” Hemesh Singh wrote on X.

Sumit Jain, who succeeded Hemesh Singh as a co-founder and currently serves on the startup’s board, was promoted to a partner role in August last year. Jain was formerly the CEO of Graphy, a SaaS platform for creators and educators.

Last December, Gaurav Munjal claimed that Unacademy had slashed its cash burn by 60%, extending its financial runway to over four years. The company reported reduced losses and increased operating revenue in FY 2022-23 compared to the previous year, driven by decreased expenses.

Founded in 2015 by Munjal, Hemesh Singh, and Roman Saini, Unacademy boasts a network of over 91,000 registered educators and serves more than 99 million learners. The platform provides education in over 14 Indian languages across 10,000 cities.

Earlier this month, Unacademy carried out a second round of job cuts, laying off 250 employees as part of a restructuring effort. This included terminating 150 employees from the sales department for failing to meet sales targets, with the remaining 100 from other verticals.

In a statement, Unacademy said, “As part of our ongoing efforts to streamline operations and enhance business efficiency, we have recently undergone a restructuring exercise. This was necessary keeping in mind the company’s goals and vision for the year, as we focus all our efforts on sustainable growth and profitability. Consequently, some roles have been impacted. While this transition won’t be easy, we will be supporting all impacted individuals during this transition.”

Follow Startup Story