Ringle, a Seoul, South Korea-based English tutoring lesson provider, raised $18M in Series A funding.
The round was led by Must Asset Management with participation of One-Asset Management, Xoloninvest, and MoCA Ventures.
The company will utilize the funds to develop educational content, grow teams at its headquarters in Seoul, Korea and San Mateo, CA, and push for client expansion both globally.
Founded in 2015 by two Stanford MBA graduates, Ringle provides one-on-one video English lessons with native-speaking tutors from universities in English speaking countries. Using AI-based analytics, the service also provides a comprehensive data-based feedback report on students’ speech pace, vocabulary, and expressions range.
In collaboration with KAIST (Korea Advanced institute of Science & Technology)’s HCI (human computer interaction) research team, the company is developing a language diagnostics system that measures and tracks student’s Complexity, Accuracy, and Fluency in English speaking. The platform will also add more review features to help students hit learning goals. The company currently has over 700 manually vetted tutors and 100,000 users.
Ringle, a member of Born2Global Centre, is valued at $90 million (KRW 100 billion).