AI-Powered TOEIC Learning Platform Santa Joins Forces with ALC
Riiid, a South Korean educational technology company, has announced a new collaboration with ALC, the premier brand in the Japanese language education industry. Together, the two are bringing Santa, Riiid’s popular TOEIC (Test of English for International Communication) learning platform, to Japan.
Santa was launched by Riiid in 2017 and has already seen significant success in Asian markets, with over 5 million downloads across Korea, Japan, and Taiwan. Last year alone, the app saw over a million downloads in Japan, becoming the most downloaded TOEIC-related application.
Japan’s TOEIC market is similar to Korea’s, seeing about 3 million test takers annually. However, individual education spending in Japan is twice that of Korea, resulting in a market worth approximately 100 billion yen ($720 million) each year.
ALC has been at the forefront of the language learning industry for 50 years, achieving steady growth and considerable recognition through its foreign language textbooks and educational services. The company’s annual revenue is currently estimated at $46 million.
Riiid is driven by a mission to give learners more possibilities to reach their goals through a scientific, data-driven approach. This collaboration is in line with that mission, combining the cutting-edge AI technology of Riiid and the strong brand reputation of ALC with its well-established TOEIC-related content.
In 2021, Riiid raised $175 million in a funding round led by SoftBank’s Vision Fund 2. This new partnership with ALC is an exciting next step for the company as it continues to expand its presence in the edtech sector.
