Softbank leads $175 million investment in South Korea-based EdTech startup and AI tutoring platform Riiid

We covered Riiid back in 2019 the South Korea-based EdTech startup and AI tutoring platform raised $18 million in Series C funding to further R&D and enhance its AI technology known as  “santA.Inside.”

Now a little over two years later, Riiid announced today that it has raised $175 million investment from SoftBank Vision Fund 2*. To accelerate the pace of capturing opportunities in the global education market, 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 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.

Founded in 2014 by Jaewe Heo and Young-Jun Jang, Riiid develop an AI Tutor platform with our exclusive machine learning technology. Riiid replaces all workbooks and teachers with an AI tutor. Through its AI technology, Riiid can provide each student with one on one tutor that can outpace human tutors at a fraction of the cost, allowing truly equal access to educational opportunities.

“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 continues to attract top global talent in education, including Marten Roorda, the former CEO of testing non-profit organization ACT, and Jim Larimore who brings two decades of education leadership experience at the Bill & Melinda Gates Foundation, Dartmouth College, Swarthmore College, NYU Abu Dhabi, and Stanford University.

“Riiiid is driving a paradigm shift in education, from a ‘one size fits all’ approach to personalized instruction. Powered by AI and machine learning, Riiid’s platform provides education companies, schools and students with personalized plans and tools to optimize learning potential,” said Greg Moon, Managing Partner at SoftBank Investment Advisers. “We are delighted to partner with YJ and the Riiid team to support their ambition of democratizing quality education around the world.”