Hemesh Singh, co-founder and Chief Technology Officer (CTO) of Unacademy, has announced his departure from the executive role at the educational technology behemoth. Singh communicated his decision via the social media platform X (formerly known as Twitter) on Saturday, stating he would transition into an advisory capacity.

In his candid post, Singh articulated his choice to vacate the executive post he has held for nearly a decade, highlighting the collaborative endeavors with his co-founders, Gaurav Munjal and Roman Saini. He reflected on the substantial strides made in transforming Unacademy’s mission and vision. Singh expressed, “After nearly a decade of building Unacademy with @gauravmunjal and @romansaini, I’ve elected to shift from an Executive Role to an Advisory Role. It has been a phenomenal journey, and I am immensely grateful to have been part of this adventure. We did revolutionize the Test Prep Industry. What an exhilarating journey it has been! Many thanks, @gauravmunjal, for everything.”

In response to Singh’s announcement, Munjal reshared the post on X, reminiscing, “Hemesh and I embarked on this journey 11 years ago with Flatchat. It’s been a remarkable ride, and I feel fortunate to have had you as a co-founder. Unacademy will miss you.”

During the fiscal year 2022-2023, Unacademy recorded a significant surge in operating revenue, which soared from Rs 719 crore to Rs 907 crore. Concurrently, the edtech titan managed to drastically curtail its losses, with figures plummeting from Rs 2,847 crore in the prior fiscal year to Rs 1,678 crore in FY23.

In a statement made in December, Munjal highlighted the company’s improved fiscal discipline, noting a 60 percent reduction in its cash burn rate, which underscores the sustainability of its operations. He further indicated that, based on current cash reserves, Unacademy possesses a financial runway extending beyond four years. Unacademy, established in 2015 by Munjal, Singh, and Saini, has significantly evolved since its inception.