Riiid, a South Korean educational technology company, has partnered with ALC, a premier brand in the Japanese language education industry, to deliver its popular TOEIC (Test of English for International Communication) learning platform, “Santa,” to Japan. Through this collaboration, Riiid aims to capture a commanding share of Japan’s burgeoning TOEIC market. It will leverage Riiid’s cutting-edge AI technology, ALC’s strong brand reputation, and its well-established TOEIC-related content.
Launched by Riiid in 2017, Santa is an AI-enabled TOEIC learning platform that has already gained significant traction in Asian markets, accumulating 5 million downloads across Korea, Japan and Taiwan. In Japan alone, the app topped a million downloads last year, ranking as the most downloaded TOEIC-related application.
Japan’s TOEIC market echoes Korea’s, seeing about 3 million test takers annually. However, individual education spending in Japan doubles Korea, resulting in a market worth 100 billion yen ($720 million) each year.
Celebrating half a century in the sector, ALC boasts considerable recognition and steady growth in the language learning industry, with annual revenue hitting $46 million from its foreign language textbooks and educational services. Riiid’s mission is to provide learners new possibilities to reach their goals through a data-driven, scientific approach.
In 2021, Riiid had raised $175 million in a funding round led by SoftBank’s Vision Fund 2.