Ringle English Education Service Co., Ltd., a Seoul, South Korea-based member company of Born2Global Centre, which provides 1:1 video English lessons with native-speaking tutors from U.S. and U.K. universities, secured US$8.9m in Series A funding.
The round was led by Must Asset Management. Thanks to this early investment, which recognizes the company’s corporate value of US$89m.
Ringle is a 1:1 video English tutoring service that provides students with real-time corrections in English on the latest current trends and business issues through lessons with Ivy League tutors. Within the field of English conversation services, Ringle provides 600 tutors from U.S./UK universities, 300+ high-quality digital textbooks, educational webinars by specialist tutors with expertise in each field, on/offline career seminars on studying abroad & foreign employment, AI-based feedback report, and more.
As of publication, Ringle currently has more than 10,000 paying customers and 600 tutors, and is providing its English education services globally, within South Korea, the U.S., Japan and Europe. Ringle is planning to strengthen its lead within the Edu-Tech market by intensively investing its Series A funding in highly proactive recruiting and service & content development within its U.S. subsidiary, in order to further its advancement of its tutors, content, technology & learning systems. Accordingly, Ringle intends to grow 5 times more year-on-year and surpass Unicorn status to become a Decacorn within 2 to 3 years. Ringle is expanding in all areas: from adults to juniors, from English to other subjects, and beyond Asia into the global market. It aspires to create world-class educational services by drawing upon the knowledge and insights of tutors from the U.S. and UK’s top 30 universities. Ultimately, Ringle seeks to create ‘a world where non-English speakers can clearly communicate and share their own opinions, without being inhibited by linguistic barriers.’
Ringle is expected to continue its Series A funding until the end of April.