Unacademy Shifts Focus to Tests & Competes with LinkedIn for Indian EdTech Market

Unacademy announced on Tuesday that its upskilling product, Relevel, is transitioning to a tests-focused product and launching NextLevel, its LinkedIn-rival. This is the latest in Unacademy’s series of changes as they strive to discover their next breakthrough.

Unacademy Group is letting go 40 Relevel employees due to lack of role availability. However, 80% of the team will be absorbed by other businesses within the group, according to CEO Gaurav Munjal’s Tuesday memo reviewed by TechGround.

Relevel’s cohorts remain unaffected by their recent staff changes; those leaving will be offered severance pay for the notice period, plus two extra months. SoftBank, Tiger Global and Sequoia India have all provided backing to this Indian edtech.

Munjal expressed gratitude for the Relevel team’s hard work and contributions, noting that it enabled quick revenue scaling but presented difficult unit economics.

We pursue novel and creative ideas while maintaining a high bar to ensure successful completion of our projects. This decision allows us to make positive contributions, especially towards improving the learning trajectory and job prospects of our customers.

The company failed to reply to a request for comment.

Unacademy, banking on the growing fame of creators, launched Relevel in 2021. Investing over $20 million into the product, it quickly earned an annualized recurring revenue of $10 million.

Last month, the startup unveiled NextLevel: their version of LinkedIn.

The average person often struggles to find the motivation they need in order to achieve their goals. They tend to repeatedly hit roadblocks that prevent them from reaching success, which can be discouraging.

People

Avatar photo
Zara Khan

Zara Khan is a seasoned investigative journalist with a focus on social justice issues. She has won numerous awards for her groundbreaking reporting and has a reputation for fearlessly exposing wrongdoing.

Articles: 806

Leave a Reply

Your email address will not be published. Required fields are marked *