ITCEN Invests in Education Management System Developer 'Rirosoft'

[Asia Economy Reporter Lim Jeong-su] IT company ITCEN, listed on KOSDAQ, has made an initial investment in Lirosoft, a specialized education company.

On the 28th, ITCEN announced that it decided to invest 1 billion KRW in Lirosoft through the ‘SuPi ITCEN Edutech New Technology Fund No.1,’ managed by Su&Financial Investment, a new technology business finance company.

The SuPi ITCEN fund is co-managed (Co-GP) by Su&Financial Investment and ITCEN to invest in Lirosoft. This structure allows ITCEN, an IT-specialized listed company, to directly participate in venture company investments.

ITCEN is an IT service specialized group that surpassed 2 trillion KRW in consolidated sales at the end of last year. It participates in the government’s NEIS (National Education Information System) construction and operation projects in the public education sector.

Lirosoft, invested in by ITCEN, operates ‘LiroSchool,’ an application that helps efficiently manage academic operations and student administration within schools. LiroSchool currently holds the highest market share in the related field, being used by over 500 middle and high schools.

Following the COVID-19 pandemic, the need for comprehensive online management systems has increased due to the rise in non-face-to-face academic operations and online classes in educational settings. An ITCEN official stated, "Considering Lirosoft’s market share and growth potential, an increase in corporate value is expected," adding, "We aim to create new revenue models through this investment."

This content was produced with the assistance of AI translation services.