Korean startup Riiid’s global arm Riiid Labs’ entry to America could not have come at a better time than in 2020 when Artificial Intelligence is transforming the global education landscape.
Riiid Labs has been established in Silicon Valley to build upon its parent company Riiid’s success in Asia and expand its business across the US, South America, the Middle East, and beyond. Riiid is a leading AI Edtech startup based in South Korea. It successfully launched Santa for Test of English for International Communication (TOEIC) test prep engine in Korea and Japan. It reached No. 1 in sales among education apps in the Android market after only five months.
— Riiid Labs (@riiid_labs) July 6, 2020
Riiid’s proprietary AI technology analyzes student data and content, predicts scores and user behavior, and recommends personalized study plans in real-time to help students optimize their learning potential. Santa for TOEIC users has improved their score by an average of 124 points after just 20 hours of study. Leveraging the success and proven efficacy of Riiid’s AI technology, Riiid Labs will continue to innovate and expand globally across new education verticals and domains.
“Reinforced education using AI is more emphasized now than ever, as the current global pandemic situation dictates we face a new normal,” said Riiid CEO YJ Jang. “I’m thrilled to launch Riiid Labs in the US at this appropriate time and confident to see the strength and capability of our US leadership team. We look forward to establishing a significant global footprint and bringing disruptive changes to the global education market.”
“Riiid has successfully verified the advancement of our proprietary AI-ed technology and proved its marketability,” Jang said. “I’m confident we can continue, and surpass, our own success story while bringing highly efficient learning solutions to everyone and lead in making fundamental changes to the education market.”
“We’re a leader in AI test prep throughout Asia, giving us a massive advantage in localizing to the cultural needs for the US market,” says Rob Barrett, Riiid Labs Chief Innovation Officer. “We’re not starting from scratch; we’re using our deep AI understanding to address and solve problems to best serve the market with a maximum positive impact on students.”
Riiid Labs partners with leaders in education to re-imagine the old ways of approaching learners. The company’s specialty is preparing students for tests like SAT and ACT with its proprietary tech. Riiid Labs has hired top-tier talent in the US for both its education and tech sectors.
“AI will make the biggest impact in education,” says David Yi, who comes to Riiid Labs as CEO after heading business development in Asia for US standard test provider ACT. “We’re talking not just financial impact, but more importantly, life impact for the well-being and future of humanity.”
Riiid Labs extends the mission of Riiid, which launched Santa for TOEIC in 2017. It’s the world’s first commercialized AI tutor solution based on a deep-learning algorithm garnering more than a million users in Korea alone. It aims to replace textbooks and augment traditional lectures with personalized help from its AI engine.
Riiid signs deal with Kaplan
In September 2020, Riiid signed a contract for individual-tailored learning content for Kaplan, which is a global education service provider operating in over 30 countries. Riiid will develop an AI home tutoring program focussed on the GRE and GMAT exams.