Riiid Inc, an AI education company and a member of Born2Global Centre, has raised $175 million investment from SoftBank Vision Fund 2. SoftBank Vision Fund 2 led the round as the sole investor, which brings Riiid’s total funding to $250 million. It is Riiid’s largest funding round to date.
“Riiid wants to transform education with AI, and achieve a true democratization of educational opportunities,” said Riiid CEO YJ Jang. “This investment is only the beginning of our journey in creating a new industry ecosystem and we will carry out this mission with global partnerships,” he added.
Over the past year, Riiid Labs, the global arm of Riiid, has expanded the company’s market across the U.S., South America, Middle East and Asia with partners such as Kaplan, ConnecME, Grupo INICIE, and Casa Grande, combining Riiid’s AI technology and the content provided by those companies to create personalized learning services.
Riiid will use the new funding to further strengthen its AI technology and extend its global technology lead in AI for education. Riiid is establishing R&D centers and data labeling centers in the U.S., Canada, and Ghana to attract global talent and to build out its technical infrastructure, according to a statement made by the company.
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