Edtech unicorn Unacademy has announced the elevation of Jagnoor Singh to the role of Chief Operating Officer (COO) for its offline centres business.
The move is part of a series of top-level changes at the Bengaluru-based company, which is increasingly focusing on its offline test preparation segment.
Why Unacademy elevated Singh to the COO role
Jagnoor Singh, previously the Chief Business Officer for the Unacademy group, has been credited with significant growth in the company's offline centres.
Over the past two years, under his leadership, the number of learners at Unacademy’s offline centres grew from 6,000 in 2022 to 32,000 in 2023. Singh brings over 15 years of experience to his new role, having previously worked with notable companies like Airtel and Oyo.
Unacademy's offline business growth
While Unacademy's offline business has seen sharp growth, its online test preparation segment has experienced a decline. The company reported a 41% reduction in net loss for fiscal 2023, narrowing to Rs 1,678.15 crore from Rs 2,847.93 crore in FY22.
Despite the challenges, CEO Gaurav Munjal highlighted the company's strong financial reserves, which are sufficient to sustain operations for several years without additional fundraising.
The elevation of Singh follows the recent appointment of Pratik Dalal as the Chief Financial Officer (CFO) of the offline centres business. Notably, This period has also seen several high-profile departures, including former COO Vivek Sinha and CFO Subramanian Ramachandran.
Under Singh's leadership, Unacademy aims to further develop its offline centres into a robust and learner-centric business.
Join our new WhatsApp Channel for the latest startup news updates