Mukesh Mundra, upGrad's new CFO, in a conference room with company branding.
Edtech unicorn upGrad has appointed Mukesh Mundra, formerly of JioStar and Viacom18, as its new Chief Financial Officer (CFO). This strategic appointment comes as upGrad awaits regulatory approval for its proposed acquisition of rival Unacademy.
Mundra brings over 26 years of extensive financial experience across diverse sectors including media, telecom, manufacturing, and consumer businesses. His previous roles include Head of Finance at JioStar and an eight-year tenure as CFO at Viacom18, where he was instrumental in financial strategy and business transformation.
The appointment is seen as a move to bolster upGrad’s financial leadership as it navigates the significant acquisition of Unacademy. The all-stock deal, valued at approximately ₹2,055 Cr (around $218 Mn), represents a strategic effort by upGrad to expand into the online test preparation segment and broaden its educational offerings. This acquisition is expected to add around ₹500 Cr to upGrad’s consolidated revenue.
upGrad, which has seen its valuation adjust to $1.7 Bn from a peak of $2.25 Bn in 2022, recently reported strong financial performance. The company reportedly turned profitable in the first 11 months of FY26, posting a profit of ₹38 Cr on revenue of ₹1,532 Cr during the period. It is projected to close FY26 with revenue nearing ₹1,972 Cr and a profit exceeding ₹60 Cr.
In his new capacity, Mundra will oversee upGrad’s finance and administration functions, focusing on financial strategy, governance, business partnering, and operational scaling. His expertise is expected to be crucial in integrating Unacademy and driving future growth initiatives for the edtech platform.
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