Riiid Labs signs USD three million contract with Latin American education leaders Grupo INICIE and Casa Grande to deliver personalized AI-powered learning

SAN RAMON,Calif.,March 25,2021 --Riiid Labs,the global arm of Riiid,a leader in AI education solutions and a member company of Born2Global Centre,announced two new partnership contracts worth over USD three million combined in Latin America. One partnership is with Grupo INICIE,one of the largest technology solutions providers for education in Brazil,and another is with Casa Grande,the largest education company in Colombia and Puerto Rico. The collaboration will combine Riiid's cutting-edge AI technology and the content provided by Grupo INICIE and Casa Grande to create a personalized test prep mobile app with each partner for the region's college admission tests. Riiid,based in South Korea,continues to partner with global leaders in education to create better learning experiences in the fastest,most efficient way.

Riiid,Grupo INICIE,Casa Grande CI

Under the terms of the agreement,Riiid will develop an AI tutor that will be delivered via a mobile test prep app,expected to be launched in the first half of 2021. The app is designed to prepare students for ENEM,the Brazilian college entrance exam with over eight million test takers annually,and SABER 11,the Colombian college entrance exam with over one million annual test takers. Both companies will provide content such as assessment questionnaires and full-length tests as well as anonymized historical student performance data related to the test. In combination,Riiid's proprietary AI technology will analyze student data and content,predict scores and user behavior,and recommend personalized study plans in real-time to help students optimize their learning potential. Riiid and Casa Grande,meanwhile,will also introduce a formative learning solution for Puerto Rico in the near future. That solution will evaluate an individual's performance throughout the entire learning process.

"We are thrilled to enter into the Latin American market with a product that can help nearly ten million students prepare for their college entrance exams," said David Yi,CEO of Riiid Labs. "The hope is that this is the first actualizing step for global education players to rethink the traditional ways of learning."

"This partnership aims at providing students with a one of a kind time saving,focused and customized experience for their individual ENEM preparation journey," said Valdecir Cavalheiro,CEO of Grupo INICIE. "Together,Grupo INICIE and Riiid Labs are creating an entirely new ENEM preparation solution,based on Grupo INICIE's deep knowledge of the Brazilian Education market and boosted by cutting edge AI technology developed by Riiid Labs."

"Our product will provide students,teachers,and tutors with precise razor-sharp knowledge of the academic areas and competencies and a personalized study plan,in which a student must focus before facing a national or college entrance exam," said Soraya M. Sesto-Martinez,President of Casa Grande. "The mobile app,developed with Riiid Labs,alongside our learning solution is revolutionary,a game changer for our youth,our school administrators,our communities,and the region. A very important step forward to improve the future of our youth,a guiding light for progress and a sure path to a post-secondary experience,further improving a country's competitiveness and future productivity."

In 2017,Riiid launched its first AI-enabled mobile application,which was aimed at preparing students for the widely utilized English proficiency exam,Test of English for International Communication (TOEIC). The app has been used by more than two million students in Korea and Japan and reached No.1 in sales among education apps in those markets.

For more detailed information on Riiid,visit https://riiid.co/en/main or https://riiidlabs.ai.

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 94 patents,26 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 Casa Grande

Casa Grande InteractiveCommunications Inc(CGIC,www.cginteractive.com) is a U.S.-based organization with more than 25 years of experience in 12 countries,including Colombia,Puerto Rico,the U.S.,and Spain in the field of educational resources and strategies,promoting innovation and social transformation through research,creativity and education. The organization has developed teacher and youth ed-tech and performance-based education,motivation,and engagement programs,such as Uno an Uno and Tratamiento Intensivo,and several dot coms,such as Operación Éxito,Nueva Escuela Virtual,and Planificación Turbo,that uniquely respond to the current and the next generation of educators and learners.

About Grupo INICIE

Founded in 2020,Grupo INICIE (www.inicie.digital) brings together the brands Edutt Streaming,Youtz,Nuvem Mestra and Estratosfera. The group is one of the largest technology solutions providers for K 12 and higher education in Brazil. The group delivers complete and complementary solutions in order to improve the learning processes for over 700 schools and universities in Brazil and Latin America,reaching 3 million users connected in their solutions.

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: jlee@born2global.com

View original content to download multimedia:/news-releases/riiid-labs-signs-usd-three-million-contract-with-latin-american-education-leaders-grupo-inicie-and-casa-grande-to-deliver-personalized-ai-powered-learning-301255767.html