Unacademy appoints Graphy's Sumit Jain as CEO of Test Prep business; Munjal says, 'I've known Sumit since...'

Edtech unicorn Unacademy has appointed Sumit Jain, co-founder and CEO of its subsidiary Graphy, as the new chief executive officer of its flagship Test Preparation business.

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The announcement was made by co-founder Gaurav Munjal on X on September 24.

Happy to announce that @sumjain is now the CEO of our Test Prep Business.

I have known Sumit since 12 years when he was the CEO of CommonFloor and he acquired my first company Flatchat. Sumit joined us as Co-Founder in 2020 has been instrumental in significantly improving the…

— Gaurav Munjal (@gauravmunjal) September 24, 2025

Jain, who earlier co-founded real estate platform CommonFloor and later Graphy, joined Unacademy in 2020. Since then, he has played a central role in strengthening financial discipline, improving unit economics, and enhancing learner experience within the test prep vertical, Unacademy’s core business and primary revenue driver.

“I have known Sumit since 12 years when he was the CEO of CommonFloor and he acquired my first company Flatchat. Sumit joined us as Co-Founder in 2020 has been instrumental in significantly improving the Unit Economics of our Test Prep Business and more importantly the Learner Experience,” Munjal wrote.

The two entrepreneurs first crossed paths over a decade ago, when CommonFloor acquired Munjal’s earlier startup, Flatchat.

The leadership reshuffle comes as Munjal and fellow co-founder Roman Saini prepare to step back from day-to-day operations to focus on Airlearn, a new language-learning venture that has already attracted interest from investors.

Airlearn, which has crossed 70,000 daily active users and an annual recurring revenue of $2 million, is gaining traction in international markets such as the US and the UK. The third co-founder, Hemesh Singh, exited the company in mid-2023.

Jain’s new mandate now extends across both online and offline preparation for competitive examinations, including UPSC, IIT-JEE, NEET, and CAT, along with Unacademy’s growing network of physical centers in cities like Kota and Delhi.

Unacademy, once valued at $3.4 billion, has faced revenue headwinds but made significant progress on profitability. In FY24, revenue fell 7.4% year-on-year to Rs 839 crore, but net losses narrowed by 62.4% to Rs 631 crore. Annual cash burn has been trimmed from more than Rs 1,000 crore three years ago to under Rs 200 crore in FY25. The company maintains reserves of about Rs 1,250 crore, and verticals like Graphy and PrepLadder are already generating positive cash flows.