Classting Reports 6.4x Year-on-Year Revenue Growth in SaaS Sector for First Half of This Year
Edutech artificial intelligence (AI) company Classting announced on the 22nd that its sales in the "Software as a Service" (SaaS) sector increased 6.4 times compared to last year in the first half of this year.
Classting's educational AI SaaS, "Classting AI," is an AI-based learning management system that supports functions such as precise learning diagnosis (CAT), personalized learning recommendations according to individual student levels, and teacher-led AI assessments. It is an innovative solution designed to overcome the limitations of one-to-many education, and has accelerated sales growth by securing over 240,000 subscribers to date.
"Classting AI" has been integrating and developing AI in education since 2016, before AI became widespread as it is today. The number of schools that adopted Classting AI in the first half of this year reached 1,191, a 4.86-fold increase compared to the previous year, and cases of improved achievement among students with basic academic difficulties have been steadily emerging. Classting is currently expanding its market share through partnerships with provincial and metropolitan offices of education and education universities nationwide.
Cho Hyun-gu, CEO of Classting, said, "The significant growth in SaaS sales is an important indicator that Classting has been recognized for its sustainable growth potential as an AI edutech SaaS company. Classting continues to strive to accelerate education. Based on our experience and know-how in Korea, we will also strengthen our competitiveness in the global education market."
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Meanwhile, Classting was the only Korean company to be listed in the Edtech SaaS Marketmap announced this month by the global market research firm Tracxn. Investors also highly evaluate Classting's growth potential. Institutional investors such as Mistletoe, Atinum Investment, Samsung Venture Investment, Korea Investment & Securities, Stick Ventures, Envisioning Partners, and Lighthouse Ventures, who invested in Classting, converted their redeemable convertible preferred shares into common shares in May.
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