EducationIN

Adda247 Layoffs

October 2023

Adda247 announced a layoff affecting 300 employees in October 2023. The company operates in the Education sector.

People Affected

300

Announced Date

Oct 14, 2023

About

In October 2023, Indian edtech startup Adda247 laid off approximately 250 to 300 employees across various departments, including sales, content, and faculty. This downsizing, which also affected 100-150 staff from its acquired platform StudyIQ, was reportedly conducted abruptly to extend the company's financial runway amid a challenging funding environment for the sector. Backed by investors like WestBridge Capital and Google, Adda247 is a test-prep platform focused on government job exams and had raised over $60 million. The layoffs reflect broader pressures in the edtech industry, even as the company had seen significant revenue growth in prior years.