Grepp, NH Investment & Securities Ink IPO Deal, Accelerate Listing

Grep, which operates the AI-based online testing platform 'Monito' and practical technology education 'Programmers', has selected NH Investment & Securities as its lead underwriter, officially commencing preparations for its IPO. Grep, which signed the official contract on June 20, has been leading the domestic competency assessment market since 2017, securing major IT companies like Naver and Kakao, along with over 30 financial institutions, as clients, thereby solidifying its market foundation. Notably, in 2024, it recorded over 30% revenue growth compared to the previous year, achieving an annual revenue of 20 billion KRW and a high operating profit margin of around 20%, proving its robust growth. Building on this success, it has recently attracted global certification exam providers and test operators as clients, accelerating its expansion into overseas markets. Grep secured an additional 4 billion KRW in investment last April, focusing on advancing its AI technology and strengthening its online examination platform operational capabilities. The funds to be secured through the upcoming IPO are expected to be a key driver for establishing bases in the North American and Southeast Asian markets and expanding global partnerships. Grep's core platform, 'Monito', boasts global top-tier stability and technological prowess, including AI-based cheating detection through eye-tracking, gesture recognition, and screen tracking, as well as individual identification via facial recognition, and support for up to 20,000 simultaneous users. Grep plans to continue innovating through the development of AI agent-based online examination platforms and global market expansion linking assessment with education. NH Investment & Securities has joined as an IPO partner, highly evaluating Grep's stable revenue structure, high growth potential, and innovative assessment methods. Im Sung-soo, CEO of Grep, stated his ambition that through this IPO, the company will accelerate its mission to innovate the future of competency-based recruitment and digital assessment, and officially demonstrate the technological prowess and platform competitiveness of its AI-based assessment system in both domestic and international markets.