Ringle, a Seoul-based online English learning platform, has raised an undisclosed amount in an extension of its Series A funding round led by Do Ventures.
With the fresh capital, the company plans to make its entry into the Vietnamese market, bringing in 1,300 active tutors as well as 950 lesson materials that will be shared with around 100,000 users worldwide.
Founded in 2015 by Seunghun Lee and Sungpah Lee, Ringle is a premium one-on-one online learning platform that connects top tutors with global employees looking to perfect their English. The platform offers reasonable pay, one-on-one adult classes, lesson materials, and schedule flexibility, though bookings can take time and their screening process is strict. It uses AI in assessing students' speech pace, vocabulary range, frequently-used words, and phrases. It also helps tutors provide real-time feedback and gives a conversation transcript after each live session.
Ringle's mission is to break down language barriers and allow talented individuals to exchange knowledge and help each other grow. The team aims to become the world’s number one EdTech company by creating a service that fosters true learning and growth through its selective tutors, content, and technology.
Since its inception, more than 1000 students from elite universities across the US and the UK have signed up to become Ringle tutors. It has built a comfortable and meaningful platform where people can take their English to the next level through engaging conversations and efficient corrections.
Ringle’s tutors are recruited from top universities and need to submit proof of education and verify their school emails. The company’s vetting process also includes a mock session with its staff. The company runs on an effective, creative, and powerful teamplay supported by individual responsibilities and initiatives.
The startup was first created to serve professionals who are already established in their careers or in academia. Its students include people who have worked for companies like Google, Amazon, BCG, McKinsey, and Samsung Electronics.
According to a report, in terms of English proficiency, Vietnam ranks 12th out of 24 Asian countries and 65th out of 112 nations globally, falling under the low proficiency category.
Last year in June, Ringle had raised $18 million in its Series A funding round led by returning investor Must Asset Management with participation from One Asset Management, Xoloninvest, and MoCA Ventures, at a valuation of $90 million.