Unacademy said Tuesday that Relevel, its upskilling product, is shifting focus to testing the product and its recently launched LinkedIn rival NextLevel, the latest in a series of changes from the Indian edtech unicorn as it races to find its next breakthrough.
As part of the move, about 40 people at Relevel will be laid off “due to lack of role availability,” Unacademy co-founder and CEO Gaurav Munjal wrote to employees on Tuesday. About 80% of Relevel’s team will be absorbed by other companies within the Unacademy Group, he said in the note, reviewed by australiabusinessblog.com.
Those enrolled in Relevel’s cohorts will not be affected and the departing team members will be offered severance pay for their notice and two additional months, said the Indian edtech, which is backed by SoftBank, Tiger Global and Sequoia India.
“We are very grateful for the hard work and contributions of the Relevel team. Their hard work and busyness enabled us to scale our revenues quickly, but unit economics proved challenging,” Munjal wrote.
“Our culture is to pursue new and creative ideas, but we are also disciplined to hold ourselves to a high bar to continue the projects we start. Again, this decision does not deprive them of their positive contributions, especially to improving the learning path and job prospects of our clients.”
The company did not immediately respond to a request for comment.
(More to follow)