On January 9 last year, Singh, who served as chief product officer for the educational technology company, He was promoted to the position of co-founder.
“Looking back over the past five years, I feel incredibly grateful for the journey I’ve taken to get here. Working with such talented and dedicated people has been an absolute privilege, and the memories we’ve created will always be special to me,” Singh said in a LinkedIn post on Thursday.
According to his LinkedIn profile, he is currently developing a new company in secret.
Singh joined Adda247 in 2019 as VP of Product and was promoted to Chief Product Officer in 2020. Prior to joining Adda247Singh has worked with Coverfox, Infoedge and Oracle.
Founded by Nagar and Saurabh Bansal in 2016, the platform offers courses for jobs in public sector banks, government departments and 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 offers courses in 12 regional languages and plans to expand its reach to two to three more states and languages this year. The company It last raised $35 million in 2022 in a funding round led by WestBridge CapitalGoogle also participated in the round, as well as existing investors Info Edge Ventures and Asha Impact. In total, the company has raised $63 million.
The company recorded revenues of 243.39 crore in FY24, up 88% YoY from Rs 129.65 crore in fiscal 23. Its net loss narrowed by almost a third to Rs 101 crore from Rs 296 crore.
It has around one million paying users and aims to increase that number to 1.7 million by the end of this year.
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