Socra AI posts record-high January transaction volume of KRW 5.5 billion… driven by launch of 'Santa' AI TOEFL

AI edtech startup Socra AI (formerly Riiid) recorded KRW 5.5 billion in transaction volume in January. This marks a 67% increase year over year and the highest monthly transaction volume since the company’s founding. During the same period, transaction volume in the Japanese market reached KRW 700 million, up 34% from a year earlier.
The launch of ‘Santa AI TOEFL’ in October last year is cited as a key driver behind this growth. Socra AI signed an official TOEFL iBT content licensing partnership with ETS, a global education and talent solutions organization, and introduced the service in Korea and Japan. Through this, learners can now access a learning environment based on ETS-authorized content within the Santa application.
Santa AI TOEFL recreates the exact environment of the real exam and provides an unlimited feedback service powered by ETS’s official scoring algorithm. Taking into account the TOEFL exam’s relative lack of past exam questions, the company also independently developed more than 3,000 pieces of content based on official ETS questions.
Socra AI plans to accelerate its expansion into the global TOEFL education market by broadening partnerships in the corporate education market both in Korea and abroad.
Park Sooyoung, CEO of Socra AI, said, “Santa AI TOEFL is receiving positive responses from learners in Korea and Japan by offering content that prepares them most effectively for the revised TOEFL,” adding, “Through continuous service improvement and expansion, we will establish it as the best TOEFL learning platform.”