NEW YORK, April 8, 2021 /PRNewswire/ -- CB Insights named
Riiid, a member company of Born2Global Centre, to the fifth annual
AI 100 ranking, showcasing the 100 most promising private
artificial intelligence companies in the world.
"This is the fifth year CB Insights has recognized the most
promising private artificial intelligence companies with the AI
100, and this is one of the most global groups we've ever seen.
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% 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
solution."
Through an evidence-based approach, the CB Insights research
team selected the AI 100 from a pool of over 6,000 companies based
on several factors including patent activity, investor quality,
news sentiment analysis, proprietary Mosaic scores, market
potential, partnerships, competitive landscape, team strength, and
tech novelty. The Mosaic Score, based on CB Insights' algorithm,
measures the overall health and growth potential of private
companies to help predict a company's momentum.
Riiid, based in South Korea,
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 two million
students in Korea and Japan and
reached No. 1 in sales among education apps in those markets. In
addition, Riiid Labs, the company's global arm based in Silicon
Valley, has partnered with education companies including Kaplan,
ConnecME, Grupo INICIE, and Casa Grande to combine Riiid's AI
technology and the content provided by those companies, creating
personalized learning mobile apps in Korea, Egypt, UAE, Turkey, Saudi
Arabia, Jordan,
Brazil, Colombia, and Puerto Rico.
To generate research and attract top AI talent to education,
last year Riiid successfully launched the inaugural Riiid AIEd
Challenge, carried out on Google's Kaggle platform. More than 3,390
teams from 90 countries participated -- the most of any 2020 Kaggle
algorithm competition hosted by a business entity. Riiid also
hosted an AI in education workshop at the 35th annual AAAI
conference with speakers including Thomas
Frey, DaVinci Institute; Elizabeth
Bailey Kozleski, Stanford Graduate School of Education;
Martha Kanter, CEO of College
Promise and former U.S. Under Secretary of Education for the Obama
Administration; and Kumar Garg,
Schmidt Futures Foundation.
Quick facts on the 2021 AI 100:
- Equity funding and deals: Since 2010, the AI 100 2021
cohort has raised over $11.7B in
equity funding across 370+ deals from more than 700 investors.
- 12 unicorns: Companies with $1B+ valuations on the list
span applications as varied as data annotation, cybersecurity,
sales & CRM platforms, and enterprise search.
- Geographic distribution: 64% of the selected companies
are headquartered in the US. Eight of the winners are based in the
UK, followed by six each in China
and Israel, and five in
Canada. Other countries
represented in this year's list include Japan, Denmark, Czech
Republic, France,
Poland, Germany, and South
Korea.
About CB Insights
CB Insights (www.cbinsights.com) builds software that enables
the world's best companies to discover, understand and make
technology decisions with confidence. By marrying data, expert
insights and work management tools, clients manage their end-to-end
technology making process on CB Insights.
About Riiid
Riiid (www.riiid.co) is a global leader in AI solutions for
education, backed by more than $70
million (USD) in funding. The company is driving a paradigm
shift in education with technology that personalizes instruction
for all students, with the aim of democratizing quality education
anywhere in the world. Riiid launched its first AI tutor solution
based on deep learning algorithms in 2017, quickly rising to number
one in education app sales in Korea and Japan with more than two million users. The
app, called Santa, uses AI to help students prepare for the English
language competency exam TOEIC. As a leading force in AI
technology, Riiid has published research papers at top AI
conferences including NeurIPS and CSEDU. The company has applied
for more than 98 patents, 27 of which are registered. In 2020,
Riiid established Riiid Labs (www.riiidlabs.ai), the company's
global arm based in Silicon Valley, California, to expand its business across the
U.S., South America, Middle East and beyond. Riiid also offers
Santa for SAT, Santa Realtor to prepare real estate agents for
certification and provides its proprietary AI tutor module as a B2B
solution to enterprises.
About Born2Global Centre
Born2Global Centre (www.born2global.com) is a full-cycle service
platform for global expansion. Since inception in 2013, Born2Global
has been setting the standard for successful startup ecosystem as
the main Korean government agency under the Ministry of Science and
ICT. Born2Global has expanded and transformed startups to be
engaged, equipped and be connected with the global market.
Media Contact
Riiid: Kiyoon.kay@riiid.co
Born2Global Centre: jlee@born2global.com
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