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Startup ‘CodeIt’ Attracts 4 Billion Investment…Alumnus CEO Yoon Soo Lee
Date: 2020-08-24  |  Read: 35

CodeIt, a coding educational service startup co-founded by alumnus Yoon Soo Lee (Business Administration, entering class of 2014) has attracted external investment of 4 billion won from three venture capitalists.

Yoon Soo Lee, CEO of CodeIt, started the business with a friend from elementary school who studied in the US and came back to Korea with an entrepreneurial dream. His friend invited him to start the business together while they were studying coding. Lee designed CodeIt, a programming educational service, with the idea of incorporating coding into the education field.

CodeIt introduces interactive coding educational services for the first time in Korea and provides a one-stop solution for coding education. Developers from IT giants and Ivy League schools produce high-quality self-education content and create a worry-free learning environment that allows coding practice online without a separate installation process. CodeIt is currently the only online coding education company that creates original contents.

CodeIt now has six team members who graduated from Yonsei University and primarily from YSB. "Meeting with great juniors and fellow students at YSB is the biggest benefit I have received from my alma mater," Lee said. He added, “The advice from YSB professors helped us in many aspects while operating a real business.” In addition, he mentioned that the fact that he is a YSB alumnus gave him huge advantages when attracting investments, especially in the case of initial “angel” or accelerator investments.

To students who dream of starting a business, he advised that "it is a good idea to start your business when you are a student because there is the least risk, and you still have energy and time to start over again even if you fail.” He emphasized, "It is also good to seek advice from senior YSB students and alumni who are active in various fields."

CodeIt is expected to expand its content with the investment funds. Lee plans within the next year to provide a personalized learning system by adopting AI-based adaptive learning technology that goes beyond “good content” and “active learning.” Current scores of 4.9 for course reviews, a completion rate higher than 51%, and increases in “average number of months attended” associated with every content release are evidence that CodeIt's unique selling points are being recognized by the market.

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