Ringle, a South Korea-based English tutoring platform, announced it has raised $18 million Series A round led by previous investor Must Asset Management, with participation from previous investors One Asset Management and MoCA Ventures, along with new investor Xolon Invest, valuing the company at $90 million, according to TechCrunch.
Founded in 2015, Ringle provides one-on-one video English tutoring services. It currently has 700 tutors and 100,000 users. About 30% of its students are based outside of Korea, including in the U.S., the United Kingdom, Japan, Australia and Singapore.
Ringle is going to launch a program for school kids later this year, and also has plans to open offline educational spaces in South Korea and the United States.
The funding will also be used to invest in its tech platform, create more original learning content, and hire for Ringle’s offices in Seoul and San Mateo, California.