Unacademy CEO and co-founder Gaurav Munjal said the edtech company is not looking for ‘any sale or M&A’ reaffirming its commitment to long-term growth.

“We are not doing any Sale or M&A. Ignore the rumors,” Munjal said in his LinkedIn post. This statement comes amid reports of Unacademy being in advanced discussions with Allen Career Institute for a potential $800 million deal.

He said that 2024 will be the company’s best year in terms of growth in the offline business and overall unit economics.

He outlined that the company’s offline test preparation segment saw 30 per cent growth, accompanied by substantial improvements in unit economics.

While the online test preparation business experienced degrowth, the company successfully enhanced its unit economics, signalling a shift toward operational efficiency, he noted.

Unacademy’s group-level cash burn has decreased by 50%, a critical step in aligning the business towards profitability.

The company reported healthy cash reserves of $170 million, with no debt and a runway exceeding four years, positioning it strongly in the competitive edtech market.

Munjal also highlighted growth in its other business arms. Graphy, a creator-focused platform, achieved a 40 per cent increase in business while remaining profitable. Additionally, Airlearn, a recently launched US-based venture, has surpassed an annual recurring revenue (ARR) of $400,000 within just a few months of its launch.

Founded in 2015 by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy started as an online test preparation platform. Since then, it has expanded to offline or hybrid learning. The company laid off 250 employees earlier this year as part of a restructuring exercise to become profitable.