Last year on January 9, Singh, who was serving as the chief product officer of the edtech company, was promoted to the position of cofounder.
“Looking back on the past five years, I feel incredibly grateful for the journey I’ve had here. Working with such talented and dedicated people has been an absolute privilege, and the memories we’ve made will always be special to me,” Singh said in a LinkedIn post on Thursday.
According to his LinkedIn, he is currently building a new venture in stealth mode.
Singh joined Adda247 in 2019 as VP – product and was promoted to chief product officer in 2020. Before joining Adda247, Singh worked with Coverfox, Infoedge and Oracle.
Started by Nagar and Saurabh Bansal in 2016, the platform offers courses for jobs in public sector banks, government departments and the railways. Its offerings include live online classes, on-demand video courses, mock tests, e-books and books tailored for specific exams.
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Adda247 provides courses in 12 regional languages and plans to extend its reach to two or three more states and languages this year.The company last raised $35 million in 2022 in a funding round led by WestBridge Capital. The round also saw participation from Google, along with existing investors Info Edge Ventures and Asha Impact. In total, it has raised $63 million.
The company recorded revenue of Rs 243.39 crore in FY24, an 88% year-on-year (YoY) increase from Rs 129.65 crore in FY23. Its net loss narrowed to nearly a third at Rs 101 crore from Rs 296 crore.
It has about one million paid users and aims to take that count to 1.7 million by the end of this year.