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Quick Take
- Sumit Jain steps down as Unacademy Test Prep CEO, with June 30, 2026 as his last executive day.
- He joined Unacademy in 2020 after the company acquired his startup Opentalk.
- Unacademy is being acquired by upGrad in an all-stock deal worth Rs 2,055 Cr.
Sumit Jain exits Unacademy as CEO of its Test Prep business on June 30, 2026, ending a five-year operating run at the edtech company’s most important revenue vertical.
The exit was announced by Gaurav Munjal, Unacademy’s CEO and co-founder, in an internal email to employees on Monday. Jain will move to an advisory role. The timing is notable: Unacademy is in the middle of a merger with upGrad, an all-stock deal valued at Rs 2,055 Cr ($218 Mn), signed in March 2026 and currently awaiting approval from the CCI (Competition Commission of India, India’s antitrust regulator).
StartupFeed Insight
Jain was the last hands-on co-founder running a core vertical at Unacademy. With his exit, Munjal heads into the upGrad deal without an operational co-founder anchor. That matters for upGrad: the buyer inherits a Rs 826 Cr revenue business that still posted a net loss of Rs 436 Cr in FY25, and now loses its Test Prep CEO weeks before the deal closes. Temasek, which holds stakes in both companies, and CCI examiners should watch whether the final deal structure includes management retention terms for the Test Prep vertical. Based on Munjal’s stated intention to eventually focus on his new venture AirLearn, Unacademy’s Test Prep unit will likely see an upGrad-appointed operational head by Q3 FY27, StartupFeed Desk.
Why Sumit Jain Exits Unacademy Now: A Career in Context
Jain has been one of India’s busiest serial founders. He co-founded CommonFloor (a real estate portal) in 2007 with Lalit Mangal and Vikas Malpani, raising $62.9 Mn from Tiger Global, Google Capital, and Accel. CommonFloor was sold to Quikr in January 2016. He then co-founded Opentalk (a social voice app) in 2017, which Unacademy acquired in 2020, bringing Jain into the fold as a co-founder.
At Unacademy, he built two significant verticals. First, Graphy, a SaaS (Software as a Service, software sold on subscription rather than as a one-time product) platform for creators and educators to host and sell online courses. Second, Unacademy’s network of offline coaching centres.
| Period | Role | Company |
|---|---|---|
| 2007 to 2016 | Co-Founder and CEO | CommonFloor (acquired by Quikr, Jan 2016) |
| 2016 to 2017 | Post-acquisition transition | Quikr |
| 2017 to 2020 | Co-Founder | Opentalk (acquired by Unacademy, 2020) |
| 2020 to Sep 2025 | Co-Founder, Led Graphy and Unacademy Centres | Unacademy |
| Sep 2025 to Jun 2026 | CEO, Test Prep Business | Unacademy |
| Jul 2026 onwards | Advisor | Unacademy |
About Unacademy
Unacademy is one of India’s largest edtech platforms, founded in 2015 by Gaurav Munjal, Roman Saini, Hemesh Singh, and Sachin Gupta. Headquartered in Bengaluru, it offers test preparation courses (JEE, NEET, UPSC, CAT), live online classes, and a network of offline learning centres. The company raised over $800 Mn from SoftBank, Tiger Global, Temasek, and Dragoneer, reaching a $3.4 Bn peak valuation in 2021. Revenue in FY25 was Rs 826 Cr. It is being acquired by upGrad for Rs 2,055 Cr ($218 Mn) in an all-stock deal.
What Does Sumit Jain’s Exit Mean for Unacademy and Its Employees?
For the 1,000-plus employees in Unacademy’s Test Prep business, Jain’s exit creates an immediate question: who runs the vertical through the integration? Gaurav Munjal, as group CEO, will take on oversight responsibility by default. But Munjal has also signaled his intent to eventually shift focus to AirLearn, a new venture he and Roman Saini are building. That leaves a leadership gap at a sensitive moment.For the upGrad deal itself, the departure is a yellow flag, not a red one.
What Does This Signal for India’s Edtech Sector?
The upGrad-Unacademy deal is the clearest signal yet of where India’s edtech sector stands in 2026. Unacademy’s valuation has fallen nearly 90%, from $3.4 Bn in 2021 to $218 Mn today. BYJU’S went through insolvency proceedings. Vedantu scaled back sharply. The companies that survive are doing so on unit economics, not user growth numbers.
upGrad is buying a battle-tested brand with a profitable offline franchise model, solid cash reserves, and a sticky test prep audience. Jain’s exit removes the person who built that offline profitability. Whether upGrad can replace that operational depth will be the real test of this acquisition.
What’s Next
The CCI must clear the upGrad-Unacademy deal before it can close. upGrad is also raising Rs 375 Cr from existing investors, including Temasek, to strengthen its position post-merger. Watch for: (a) who Unacademy or upGrad names to lead Test Prep operationally from July 2026, and (b) whether the CCI approval comes through before the December 2026 quarter. What does a leaderless quarter look like for Unacademy’s JEE and NEET batches?
Frequently Asked Questions
Who is Sumit Jain and what has he built at Unacademy?
Sumit Jain is a serial entrepreneur who co-founded CommonFloor (sold to Quikr in 2016), Opentalk (acquired by Unacademy in 2020), and Graphy (Unacademy’s SaaS creator platform). At Unacademy, he built the offline coaching centre network, scaled Graphy through the Spayee acquisition, and was appointed CEO of the Test Prep business in September 2025.
Why is Sumit Jain exiting Unacademy before the upGrad deal closes?
Sumit Jain exits Unacademy ahead of the upGrad acquisition, with June 30 as his last executive day. The specific reason has not been publicly stated beyond Gaurav Munjal’s internal email crediting his contributions. His departure may reflect a preference not to continue in a post-merger role under upGrad’s organizational structure.
What is the upGrad-Unacademy deal and when will it close?
upGrad signed a term sheet in March 2026 to acquire Unacademy in a 100% all-stock deal valued at Rs 2,055 Cr ($218 Mn). The deal represents a near-90% fall from Unacademy’s $3.4 Bn peak valuation in 2021. It includes a break fee clause and requires CCI approval before closing. Temasek holds stakes in both companies and is also participating in a separate Rs 375 Cr raise by upGrad.
