Vernacular test preparation platform Adda247 on Monday elevated the company’s chief product officer Chandan Singh to its co-founder.
In his new role, Singh will be handling product, growth, analytics and digital marketing for the Gurugram-based Adda247, it said in a statement.
Adda247, operated by Metis Eduventures Pvt. Ltd, offers live-video classes, on-demand video courses, mock tests, and books to help students prepare for government examinations. The company was founded in 2016 by Anil Nagar and Saurabh Bansal.
“Singh’s wealth of knowledge, expertise and extensive experience will be integral to Adda247’s growth and promises exciting times for the company,” said Nagar.
“We are confident that in his new role, Chandan will be instrumental in taking Adda247 to the pinnacle of the test prep category in India.”
In October last year, Adda247 had raised $35 million (around Rs 280 crore) in a fresh fundraising round, led by private equity firm WestBridge Capital. Google, Info Edge and Asha Impact also participated in the round, which valued the company at $175 million.
At the time, Adda247 said it was planning to use the fresh capital to boost its tech and product portfolio and hire for some key leadership roles amongst other things.
Singh, an alumnus of IIM Ahmedabad and IIT BHU, joined Adda247 in 2019 as Vice President, Product and was promoted to the role of chief product officer in 2020.
He played a “pivotal role” in building the product side of the business, Adda247 said. Singh has previously worked with Coverfox, Infoedge, and Oracle.
“New beginnings are always exciting and I am elated and honoured to step into this new role as the Co-founder at Adda247,” said Singh. “We are on a mission to create a level playing field for the masses and will continue growing our vernacular business, adding more languages and more exam prep categories.”
Adda247 currently has 22 million monthly active users, out of which about 2 million are paid users. It offers content in over 12 vernacular languages, focussing on students from tier II and III cities.
In 2021, it acquired UPSC focused ed-tech platform StudyIQ Education for about $20 million to boost its offering in the segment. In the financial year 2022, it reported a turnover of Rs 64 crore, growing about 27% over the previous year.
