Riiid closes US$41.8 million funding round to accelerate global business expansion

SEOUL, South Korea, July 24, 2020 /PRNewswire/ -- Riiid, a leading AI education solutions startup and a member company of the Born2Global Centre, has successfully secured a USD 41.8 million pre-Series D funding round. The round includes investment from state-run Korea Development Bank (KDB), NVESTOR, Intervest as well as from an existing investor IMM Investment, bringing Riiid's total funding to date to USD 70.2 million. The funding represents another major milestone for the company, highlighting its more than 200 percent annual sales growth and adding over a million cumulative users since 2017. Riiid has been an active member company of the Born2Global Centre since 2016. Riiid, based in Korea, offers Santa, a mobile test prep application for the popular English proficiency exam, Test of English for International Communication (TOEIC). Santa, which has been used by more than a million students in Korea and Japan, reached No. 1 in sales among education apps in Japan and Korea. Riiid's proprietary AI technology analyzes student data and content, predicts scores and user behavior, and recommends personalized study plans in real-time to help students optimize their learning potential. Santa has proven the efficacy of Riiid's technology and the company is now focused on providing To keep reading about Riiid closes US$41.8 million funding round to accelerate global business expansion, Click on the link. Seoul, Korea
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