By Inc42 Media

SUMMARY

Unacademy’s partner Sumit Jain is reportedly set to replace Hemesh Singh on its board

Jain joined Unacademy in April 2020 and is currently one of the partners there

He has also founded and led a few other companies as CEO, including Opentalk and CommonFloor.com

Unacademy’s partner Sumit Jain is reportedly set to replace the edtech startup’s cofounder and chief technology officer Hemesh Singh, who last week announced his transition to an advisory role, on its board of directors. 

Singh is expected to move to the United States and will have an advisory role at the company for 6-12 months, The Arc reported.

Meanwhile, Jain joined Unacademy in April 2020 and is currently one of the partners there. He, primarily, is the founder and chief executive officer of Graphy, a subsidiary of the edtech company. 

Inc42 has reached out to Unacademy seeking a comment on the development. The story will be updated based on the response.

As per Jain’s LinkedIn profile, he is an investor in Unacademy, and about 25 other startups, including financial services company Fisdom, online music school Topbeat and social application Slick.

He has also founded and led a few other companies as CEO, including Opentalk and CommonFloor.com. Online classifieds platform Quikr acquired CommonFloor.com in January 2016. Jain has a cumulative experience of nearly two decades in the tech industry.

Last week, Singh announced his decision to take a back seat after being with the edtech startup for more than eight years. He took to social media platform X to announce his transition to an advisory role.

“After almost a decade of building Unacademy with @gauravmunjal and @romansaini, I have decided to move from an executive role to an advisory role,” he said in a post.

“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,” he added.

Singh along with Gaurav Munjal and Roman Saini founded Unacademy in 2015. The Bengaluru-based company claims to have a network of 91K registered educators (teachers) and over 99 Mn learners.

The Peak XV Partners-backed edtech startup narrowed its consolidated net loss by almost 40% to INR 1,678.1 Cr in the financial year 2022-23 (FY23) from INR 2,847.9 Cr, a year ago, on the back of a sharp reduction in costs.

Source: Inc42 Media