Investment from RUG Ventures and G-Force Capital will accelerate MemoryLab's growth and global reach in the adaptive learning technology market.
Groningen, Netherlands - July 18, 2023 - MemoryLab, a leading company specializing in adaptive learning and continuous assessment technologies, is pleased to announce that it has secured a €575.000 investment from RUG Ventures and G-Force Capital. This significant investment, led by Corina Prent of RUG Ventures and Niek Huizenga of G-Force Capital, will be used to fund MemoryLab's international expansion, furthering the strategy to become a global leader in the field of Artificial Intelligence-based adaptive learning technologies.
MemoryLab's innovative approach to learning, grounded in over fifteen years of empirical scientific research at the University of Groningen, offers a system that increases learning efficiency by 10-15% compared to traditional study methods. Its adaptive learning system is based on an AI-based memory model that predicts how well each fact is retained, based on the speed and accuracy of a learner's responses during practice.
"We're thrilled to partner with RUG Ventures and G-Force Capital," said Prof. dr. Hedderik van Rijn, founder and researcher at MemoryLab. "This investment not only validates the strength of our technology but also provides us the resources to scale our operations and bring our innovative learning solutions to more learners around the world."
Corina Prent of RUG Ventures stated, "We're excited to support MemoryLab's international growth. Their scientifically grounded approach to learning is transforming the way people study, and we look forward to seeing their continued success on a global scale."
Niek Huizenga of G-Force Capital added, "MemoryLab's vision and dedication to technology and innovation align perfectly with our investment philosophy. We are confident that this investment will enable MemoryLab to reach new heights in the edtech sector."
The investment will be instrumental in extending MemoryLab's reach to global markets, allowing the company to bring its unique, research-based learning tools to a broader audience. The funding will also enable MemoryLab to further enhance its product offerings and maintain its commitment to continuous research and innovation in the education technology sector.
About Memory Lab
MemoryLab is a pioneer in the field of adaptive learning and continuous assessment. It offers efficient and personalized learning solutions based on over fifteen years of scientific research. With its products used by large publishers and universities in Europe and the US, MemoryLab has helped over 1 million learners study better and faster. For more information, visit www.memorylab.nl.
