Security News > 2020 > July > Riiid raises $41.8M to accelerate growth and global business expansion

YJ Jang, Riiid's CEO, said, "Riiid successfully completed domestic funding amid a slower investment environment due to the unprecedented COVID-19 pandemic and has made significant progress in negotiating with overseas financial investors to accelerate global expansion."

To support the effort, Riiid Labs, the global arm of Riiid, has been established in Silicon Valley to solidify the company's position as an AI technology company in the global education market.

He added, "At a time when the need for effective remote learning solutions is expanding not only in the education market but also in various industries, the investment was made highly valuing the marketability of Riiid's proven business model in Santa, excellent talent pool, and various global partnerships that are underway based on a scalable technology structure."

Striving for technology leadership, Riiid continues to research AI technology trends and publish papers at top AI conferences including Neural Information Processing Systems, the International Conference on Computer Supported Education, and others.

In early 2020, Riiid launched EdNet, the world's largest open database for AI education to solidify global tech and industry leadership.

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