Korea’s Riiid raises $175M from SoftBank to expand its AI-based learning platform to global markets
“AI is eating the world of education,” Riiid co-founder and CEO YJ Jang notes in his biographical description on his LinkedIn profile, and today his startup which builds AI-based personalized learning, including test prep, for students is announcing a major funding round to help it position itself as a player in that process.
Seoul-based Riiid has closed a funding round of $175 million, an equity round coming from a single backer, SoftBank’s Vision Fund 2.
The funding is coming at a high-watermark moment for edtech with the shift to remote learning in the last year of pandemic living highlighting the opportunity to build better tools to serve that market, and a number of startups in the category subsequently raising hundreds of millions of dollars to tackle the opportunity. Riiid plans to use the investment both to expand its footprint internationally, a well as to exp
Riiid named to the 2021 CB Insights AI 100 list of most innovative AI startups
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NEW YORK, April 8, 2021 /PRNewswire/ CB Insights named Riiid, a member company of Born2Global Centre, to the fifth annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
Riiid named to the 2021 CB Insights AI 100 list of most innovative AI startups This is the fifth year CB Insights has recognized the most promising private artificial intelligence companies with the AI 100, and this is one of the most global groups we ve ever seen. This year s cohort spans 18 industries, and is working on everything from climate risk to accelerating drug R&D, said CB Insights CEO Anand Sanwal. Last year s AI 100 companies had a remarkable run after being named to the list, with more than 50% going on t