Bengaluru’s edtech unicorn Unacademy has announced a significant leadership change, promoting long-time employee Arooshi Singh to the position of Head of HR. This move comes as part of a series of high-level appointments and departures at the SoftBank-backed company, reflecting the dynamic nature of India’s competitive edtech sector.
Key Aspects of Unacademy’s Leadership Transition
- Arooshi Singh’s Promotion After seven years with the company, Arooshi Singh has been elevated from her previous role as Director of People Experience and Culture to Head of HR.
- CEO’s Announcement Unacademy’s founder and CEO, Gaurav Munjal, shared the news via an internal Slack message, praising Singh’s dedication and impact on the team.
- Previous HR Leadership Singh replaces Sandhydeep Purri, who was appointed as Chief People Officer in November 2023.
Recent Leadership Changes at Unacademy
The edtech giant has seen several high-profile appointments and exits in recent months:
- New Appointments
- Jagnoor Singh: Promoted to Chief Operating Officer (COO) for Unacademy Centres in January 2024
- Abhishek Pipara: Elevated to Chief Financial Officer (CFO) for the offline business in February 2024
- Notable Departures
- Vivek Sinha: Chief Operating Officer, resigned in August 2023
- Subramanian Ramachandran: Group CFO, left in October 2023
- Hemesh Singh: Co-founder and CTO, departed in June 2023
Unacademy’s Financial Performance
Despite the leadership shuffle, Unacademy has shown resilience in its financial performance:
- Revenue Stability For the fiscal year ending March 2024, the company reported flat revenue at Rs 988 crore.
- Significant Loss Reduction Unacademy managed to cut its losses by an impressive 62% in the same fiscal year.
Corporate Governance and Future Plans
- Voting Rights Adjustment In May 2024, Unacademy modified the goals for co-founders Gaurav Munjal and Hemesh Singh to access additional voting rights through bonus shares issued in 2022.
- IPO Preparations The company aims to form a committee by March 2025 to work on its initial public offering (IPO), as per recent filings with the Registrar of Companies (RoC).
Implications for India’s Edtech Sector
- Talent Management Unacademy’s focus on internal promotions highlights the importance of nurturing and retaining talent in the competitive edtech space.
- Adapting to Market Changes The leadership reshuffle reflects the need for edtech companies to adapt quickly to changing market conditions and consumer demands.
- Financial Discipline The significant reduction in losses demonstrates a shift towards financial sustainability in the edtech sector, which has faced challenges post-pandemic.
Conclusion
Unacademy’s elevation of Arooshi Singh to Head of HR, along with other recent leadership changes, signals the company’s commitment to evolving its management structure. As the edtech giant prepares for potential public listing and focuses on financial stability, these strategic moves could set a precedent for other Indian startups in the sector. The coming months will be crucial in determining how these changes impact Unacademy’s growth trajectory and its position in India’s competitive edtech landscape.
