Founded in 2015 by Stanford alumni Seunghoon Lee and Sungpah Lee, South Korea-based Ringle provides one-on-one English tutoring lessons with native-speaking tutors from distinguished universities in English-speaking countries. The platform differentiates itself from other online tutoring services by its learning materials, which are based on a variety of topics, and its faculty of highly educated tutors. The platform also provides AI-driven, data-based feedback on students’ pace of speech, vocabulary, and range of expressions. Company revenue has tripled each year since its founding, and, as of June 2021, it had more than 700 tutors and 100,000 users—of whom 30% were based outside of Korea. The company expanded its offering to Japanese users in December 2021.
In June 2021, the company raised USD 18 million (KRW 20 billion) in Series A funding—reportedly the second-largest Series A round in the history of English education startups. The funds were earmarked for developing original educational content and expanding its headcount in Seoul and California. The company plans to introduce a subscription-based service to access premium content, expand to countries with large student populations, such as the US, the UK, Japan, Australia, and Singapore, and also introduce a junior program for students aged ten and up in H2 2021.
Ringle also plans to invest in platform development by focusing on a language diagnostics system that measures and tracks a student's complexity, accuracy, and fluency in speaking English, adding more review features to help students achieve learning goals. The system is being developed in collaboration with the Korea Advanced Institute of Science & Technology's human-computer interaction research team.
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