Unacademy: Unacademy cofounder and CTO Hemesh Singh quits edtech startup

Hemesh Singh, cofounder of Unacademy, has stepped down as the chief technology officer and will move into an advisory role, as per his post on social media platform X. “After almost a decade of building Unacademy with @gauravmunjal and @romansaini , I have decided to move from an Executive Role to an Advisory Role,” Singh said in the 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. What a crazy journey it has been! Thanks a lot @gauravmunjal for everything,” he added.

Started as a YouTube channel by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy became an edtech platform in 2015.

Sharing Singh’s post, Munjal recollected their journey together.

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“Hemesh and I started working together 11 years ago when we were building Flatchat. It had been a Crazy Ride and I have been grateful to have a Co-Founder like you. Unacademy will miss you,” Mujal posted.

ET reported on May 31 that the SoftBank-backed edtech unicorn changed the goals for Munjal and Singh to access additional voting rights through bonus shares issued to them in 2022.

According to Unacademy’s filings with the Registrar of Companies (RoC), Munjal and Singh will get access to additional voting rights if the company forms a committee by March 2025 to work on its initial public offering.

According to Tracxn data, Munjal and Saini hold 3.4% of the company each, while Singh holds a 2.2% stake.

The company last closed a $440 million funding round in August 2021, led by Singapore’s Temasek Holdings and valuing it at $3.4 billion.