Riiid enters 100 most innovative AI Startups by CB Insights

Riiid, a South Korean artificial intelligence-based education tech startup, was added to a lits of the most innovative AI startups by a global market intelligence platform, the company said on Friday.

Riiid, which develops AI technology that analyzes student data and content to help them learn, was included in the CB Insights’ AI 100 list, which is in its fifth year. CB Insights has chosen 100 out of 6,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, market potential, partnerships, competitive landscape, team strength, and tech novelty.

“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 percent going on to raise additional financing (totaling $5.2B), including 16 $100 million+ mega-rounds. Many also went on to exit via M&A, SPAC or IPO. As industry after industry adopts AI, we expect this year’s class will see similar levels of interest from investors, acquirers and customers.”

“Riiid’s inclusion on the list validates our drive to apply AI to create a personalized learning experience and empower global education players to rethink traditional instruction,” said YJ Jang, co-founder and CEO of Riiid. “We were founded to make exponential changes in education and we are indeed pioneering a new paradigm. The coronavirus pandemic created a perfect storm for Riiid to provide its proprietary AI technologies to meet the demand for the highest quality remote learning solutions.”

Riiid features AI technology that analyzes student data and content, predicts scores and user behavior, and recommends personalized study plans in real-time to help students achieve their learning potential. Riiid offers a mobile test prep app for a popular English proficiency exam that is used by more than 2 million students in Korea and Japan.

By Park Ga-young (gypark@heraldcorp.com)