Unacademy's Gaurav Munjal Steps Up to Executive Chairman

Gaurav Munjal, co-founder and CEO of Unacademy, is moving to the role of Executive Chairman, handing the chief executive seat to chief business officer Akhilendra Kumar.

Munjal announced the transition in a post on X. He said he will stay actively involved in day-to-day operations and work alongside Kumar. He also confirmed he would help with the upGrad IPO.

The timing tells the real story. This reshuffle lands nearly two months after upGrad completed its acquisition of Unacademy in September 2026, in an all-stock deal valued at just over $200 million. That price is a steep comedown for a company that was worth around $3.4 billion at its 2021 peak — roughly 94% of Unacademy's peak valuation evaporated between the boom and the exit.

Who is the new CEO?

Akhilendra Kumar isn't an outside hire. He has served as Unacademy's CBO and has been with the company for nearly five years. That continuity matters for a business being folded into a larger acquirer: the operator climbing into the top job knows the unit's economics and its educator network from the inside.

For Munjal, the Executive Chairman title keeps him in the room rather than at the exit. His stated portfolio — staying close to daily operations while supporting the upGrad IPO — signals he'll represent the merged entity's interests with investors as the public listing push gathers pace.

What does the deal change for upGrad?

Strategically, the acquisition gives upGrad an entry into online test preparation — UPSC, JEE, NEET and GATE — segments where it previously had no real foothold. Unacademy's educator network now sits alongside upGrad's existing businesses in higher education, upskilling and study abroad.

The financial picture explains why the combination makes sense on paper. At the time of the acquisition, Munjal said Unacademy had a topline of around Rs 400 crore, with most of its businesses either profitable or near profitable. He added the company held around Rs 900 crore in the bank — a cash cushion worth more than twice its annual revenue.

upGrad itself brings scale to the table. Its gross revenue grew 7% year-on-year to Rs 2,070 crore in FY26, including taxes. Total income stood at Rs 1,732 crore after Ind-AS accounting. The company reported a provisional profit of Rs 38.8 crore during the 11 months ended February 2026 — modest against Rs 2,000-crore-plus gross revenue, but a profit nonetheless in a sector still littered with losses.

Consolidation is already underway

The integration isn't waiting for a honeymoon period. upGrad is consolidating the operations of Unacademy and its businesses into one hub. PrepLadder's headquarters has already moved from Chandigarh to Bengaluru, and Unacademy, PrepLadder, Airlearn and Graphy will all operate from Bengaluru going forward.

For practitioners watching the ed-tech sector, the practical takeaway is simple: expect further centralization of functions, overlapping role cuts as teams merge, and a sharper focus on proving unit economics before the IPO window. A CEO change at the acquired company, paired with a founder moving to a chairman role tied to the listing effort, is a classic pre-IPO arrangement — clear operational leadership on one track, capital-markets stewardship on the other.

The next milestone to watch is the upGrad IPO itself, where Munjal has said he'll play an active part.