# Databank

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/databank

- Industry: Education/Training
- Headquarters: Seoul, South Korea
- Website: www.data-bank.ai
- Total disclosed funding: $7M
- Latest round: Series B (Jan 13, 2023)
- Investors on record: 7

## About

Databank Inc. is an innovative company that develops AI-driven educational solutions, notably through its product TestGlider, which enhances language proficiency for users worldwide.Founded in 2019 in Seoul, South Korea, Databank Inc. specializes in educational technology, focusing on AI solutions for language learning. The company has not undergone significant operational pivots and does not appear to have any subsidiaries. The company was co-founded by Brian Cho and Dahoon Song, who has a history in technology and education. In January 2023, Databank Inc. raised KRW 5 billion in series B funding from Korea Development Bank, D3 Jubilee Partners, Gauss Ventures, Company K Partners, and Schmidt. Databank Inc.'s primary offering is TestGlider, an AI-driven educational solution launched in 2019. This flagship product utilizes deep learning technology to assess users' speaking and writing skills, offering personalized lesson recommendations to improve learning outcomes. It has over 720,000 users across 202 countries, assisting students in preparing for major English proficiency exams like TOEFL and IELTS. The technology encompasses an Automated Grading System that simulates human grading patterns and an AI Correction System aimed at enhancing grammatical accuracy and expression in writing. The services target primarily international markets, especially Asia and North America, where there is a high demand for English language proficiency. Databank Inc. generates revenue through direct-to-consumer sales and business-to-business partnerships. Users interact with the platform via subscription models to access TestGlider and its services. Furthermore, the company has formed partnerships with educational institutions, which may create additional revenue streams through licensing agreements or collaborative offerings. This model supports scalable transactions, facilitating integration of Databank Inc.'s AI solutions into educational curricula while offering personalized experiences for individual users. Specific pricing details for these services are not publicly available, though they cater to diverse user needs from individuals to large educational organizations. The company will use the January 2023 funds for service and business expansion. The company is focused on developing additional educational products and aims to enter markets in Europe and South America by 2023. Recent investments will support these initiatives, particularly in technology development and market entry strategies.

## Funding rounds

- Series B, Jan 13, 2023, $4M — Korea Development Bank, Company K Partners, D3 Jubilee Partners, Schmidt, Gauss Ventures
- Series A, Apr 15, 2021, $2.7M — KB Investment, InterVest, Company K Partners
- Seed, Apr 6, 2020, $0.2M — Schmidt

## Investors

- Schmidt (https://capitalatlas.ai/funds/schmidt) — Seed, Series B
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series A
- InterVest (https://capitalatlas.ai/funds/intervest) — Series A
- Company K Partners (https://capitalatlas.ai/funds/company-k-partners) — Series A, Series B
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- D3 Jubilee Partners (https://capitalatlas.ai/funds/d3-jubilee-partners) — Series B
- Gauss Ventures — Series B