Latest Vivek Sunder News
May 8, 2023
Cuemath announces layoffs, founder Manan Khurma reassumes CEO role SECTIONS ETtech Rate Story Synopsis The decision has impacted 100 out of about 800 roles, across functions, a spokesperson for the Sequoia Capital India-backed startup told ET. iStock Online math class startup Cuemath has cut an undisclosed number of functions and roles, citing challenges in the edtech ecosystem. The decision has impacted 100 out of about 800 roles, across functions, a spokesperson for the Sequoia Capital India-backed startup told ET. Founder and chairman Manan Khurma , who took to LinkedIn to make the announcement, also said that current CEO Vivek Sunder will be transitioning to an advisory role. "Our current CEO, Vivek Sunder — a phenomenal hyper-scale business operator — will transition from his full-time role to continue to work with me and the team, in an advisory capacity, on his many areas of expertise — like acquisition funnels and GTM strategies," Khurma said in the post. Sunder, who was earlier the COO of Swiggy , had joined Cuemath in September 2021 , with Khurma taking on the Chairman’s mantle. Khurma will return as chief executive of the company, the post noted. The layoffs , Khurma added, have been carried out to better Cuemath’s business metrics, such as retention rates. Discover the stories of your interest “While this will impact some talented people who have contributed a lot to Cuemath, we are committed to supporting our affected colleagues with everything they need to ensure a smooth transition into the next phase of their professional journey,” he said. The Bengaluru-based startup last raised $57 million , in a round led by US-based Alpha Wave Global , at a valuation of $407 million. Its valuation has doubled since that last funding round in December 2020. “Valuations have become more realistic with rationalisation hitting the market; only those growth-stage startups with solid business fundamentals can now establish trust with VCs,” Sunder had said back then. Founded in 2013 by Khurma, Cuemath is an after-school online math tutoring platform for kindergarten to 12th-grade students. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Monday, 08 May, 2023
Vivek Sunder Investments
Vivek Sunder has made 1 investments. Their latest investment was in Siply as part of their Seed VC - II on June 14, 2022.
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