Riiid raises $41.8 million to expand its AI test prep apps

Riiid, a Seoul, South Korea-based startup developing AI test prep solutions, today closed a $41.8 million pre-series D financing round, bringing its total venture capital raised to date to $70.2 million. CEO YJ Jang says the funding will be used to advance Riiid's technology that offers personalized study solutions based on big data analysis, and to bolster the company's expansion across the U.S., South America, and the Middle East as it establishes an R&D lab -- Riiid Labs -- in Silicon Valley. The pandemic has forced the shutdown of schools in countries around the world; cramped indoor classrooms are seen as a major threat vector. Despite inequities with regard to internet access and the widening achievement gap, it's the belief of educators that the health pros outweigh the cons. Riiid, which offers its services exclusively online, has been a beneficiary of the shift.