Chandan Singh, the co-founder of Google-backed edtech startup Adda247, has exited the company. Singh, who was serving as the Chief Product Officer, was elevated to the position of co-founder in January 2022. Reflecting on his five-year journey with Adda247, Singh expressed gratitude for the experience and his colleagues, mentioning it was a privilege to work with such talented individuals. Singh announced his departure via a LinkedIn post and shared that he is currently developing a new venture in stealth mode.
Singh joined Adda247 in 2019 as Vice President of Product and was promoted to Chief Product Officer in 2020. Prior to his tenure at Adda247, Singh held positions at Coverfox, Infoedge, and Oracle.
Adda247, founded by Anil Nagar and Saurabh Bansal in 2016, offers educational courses targeting job seekers for positions in public sector banks, government departments, and railways. The platform provides a range of learning resources, including live online classes, on-demand video courses, mock tests, e-books, and books tailored to specific examinations. Currently, Adda247 offers courses in 12 regional languages and is planning to expand its services to two or three more states and languages within the year.
In 2022, Adda247 raised $35 million in a funding round led by WestBridge Capital, with participation from Google and existing investors Info Edge Ventures and Asha Impact, bringing its total funding to $63 million. The company saw significant growth in FY24, with its revenue reaching Rs 243.39 crore, an 88% increase from Rs 129.65 crore in FY23. The net loss narrowed substantially to Rs 101 crore from Rs 296 crore the previous year.
Adda247 currently has around one million paid users and aims to increase this number to 1.7 million by the end of the year.