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May 24 (Reuters) - Riiid Inc, a South Korean AI tutorial
startup, on Monday said it raised $175 million from SoftBank
Group Corp s Vision Fund 2 as it looks to shake up the
world of standardized testing, and take its technology to public
schools.
Venture capital s funding of education tech surged with the
pandemic to $16.1 billion globally in 2020, up from $7 billion
in 2019, according to research firm HolonIQ. The bulk of this
funding has been for services consumers have to pay for such as
Chinese online tutorial service Zuoyebang, which raised over
$1.6 billion late last year.
Startups targeting public schools, especially in the United
S Korean AI tutor Riiid raises $175m from SoftBank to take its tech to public schools
Photo: Internet Archive
May 24, 2021
Riiid Inc, a South Korean AI tutorial startup, on Monday said it raised $175 million from SoftBank Group Corp’s Vision Fund 2 as it looks to shake up the world of standardized testing, and take its technology to public schools.
Venture capital’s funding of education tech surged with the pandemic to $16.1 billion globally in 2020, up from $7 billion in 2019, according to research firm HolonIQ. The bulk of this funding has been for services consumers have to pay for such as the Chinese online tutorial service Zuoyebang, which raised over $1.6 billion late last year.