Edtech giant Unacademy has announced a major leadership change by appointing Sumit Jain, the co-founder and CEO of its subsidiary Graphy, as the new CEO of its flagship Test Prep business. Jain, who joined Unacademy in 2020, has been closely associated with the company’s growth journey over the past four years, driving both financial discipline and learner satisfaction across the platform.
Before joining Unacademy, he co-founded CommonFloor, a popular real estate platform, which later acquired Unacademy co-founder Gaurav Munjal’s first startup, Flatchat. Their professional relationship goes back more than a decade, making this transition both strategic and personal.
New Appointment
Sharing the news, Gaurav Munjal expressed confidence in Jain’s leadership, recalling their journey from competitors to collaborators. “I have known Sumit for 12 years. He joined us as co-founder in 2020 and has played a crucial role in improving our unit economics and learner experience,” he said.
With this shift, Munjal and fellow co-founder Roman Saini are stepping back from daily operations to focus on their new AI-driven language-learning venture, Airlearn. The startup is already gaining traction in global markets like the US and UK, boasting over 70,000 daily active users and an annual recurring revenue of $2 million.
Mandate Takes Shape
Sumit Jain’s responsibilities will now span both online and offline coaching operations, covering major competitive exams such as UPSC, IIT-JEE, NEET, and CAT. He will also oversee Unacademy’s expanding network of physical learning centres in education hubs like Kota and Delhi, as the company continues to balance digital learning with on-ground presence.
The move signals Unacademy’s continued commitment to dominating India’s test preparation market despite rising competition from platforms like BYJU’S, Physics Wallah, and Vedantu.
Strong Foundation
Unacademy, once valued at $3.4 billion, has witnessed a dip in revenue but has made significant strides toward profitability. In FY24, the company’s revenue fell 7.4% year-on-year to Rs 839 crore. However, net losses reduced sharply by 62.4% to Rs 631 crore. Its cash burn, which once crossed Rs 1,000 crore annually, has now dropped to under Rs 200 crore.
The company maintains reserves of around Rs 1,250 crore, and key verticals like Graphy and PrepLadder are already operating with positive cash flows, giving Jain a stable foundation to build upon.
Unacademy Competitors
While Unacademy consolidates its leadership, competition in the test prep space is heating up. Physics Wallah is aggressively expanding offline, BYJU’S is restructuring its core business, and Vedantu is focusing on hybrid learning models. With Sumit Jain at the helm, Unacademy aims to strengthen its hybrid strategy and reclaim lost ground.
