GoodGist Inc., a pioneering innovator in corporate skills development and knowledge management automation, is delighted to announce the successful acquisition of $1 million in funding from several high-profile investors. This timely investment marks a pivotal moment for GoodGist Inc. as it prepares to launch an advanced AI Curator designed to upskill and reskill the workforce in the rapidly evolving corporate landscape.
The allocation of this funding comes from the investors FortyTwo VC, Cedar Ridge Ventures, DX Partners, and prominent angel investors from leading tech companies such as Microsoft and Amazon. It will enable GoodGist Inc. to launch their multilingual GoodGist.com platform in the global markets, expand their team to bolster research and development efforts, and enhance product offerings to mitigate skill gaps and information overload effectively.
According to the World Economic Forum, an estimated 1 billion individuals globally will require upskilling or reskilling by 2030, with failure to meet this demand potentially resulting in an $8.5 trillion hit to the global economy. GoodGist Inc. plans to address these key issues by deploying an advanced AI Curator, leveraging its patent-pending technology designed to personalize learning and research journeys for individuals on-demand to expedite workforce upskilling and reskilling.
“Traditionally, it costs up to $50,000 per finished hour of content for an entire multi-hour course. Remarkably, less than 30% of these courses are initiated by learners, and even fewer are completed. This highlights the urgent need for a paradigm shift in corporate skills development pedagogy,” stated Ruban Phukan, Co-Founder and CEO of GoodGist Inc.
“We are fortunate to have the backing of investors who fully support our vision and mission. Together, we aim to address and avert what could soon escalate into a crisis for the corporate world if not properly addressed,” he added. The founders of GoodGist are serial entrepreneurs with several successful exits of technology startups. Their product vision is born from firsthand experience navigating upskilling and knowledge management hurdles in startups and large corporations.
Asutosh Upadhyay, Co-Founder of FortyTwo.VC shared Phukan’s enthusiasm, “The current L&D systems are designed to address the common denominator and cannot deliver the desired ROI as these models struggle to balance scalability with personalization. GoodGist Inc. aims to challenge this bottleneck. Our investment reflects our confidence in the transformative power of AI to reshape enterprise learning and development, and we could not have envisioned a more capable team to lead this endeavor.”
Kirti Reddy, Founder and Managing Partner of Cedar Ridge Ventures, concurs. “The possibilities here are immense – across the whole value chain of L&D and in many different sectors and markets. We are excited to partner with Ruban and the team to execute against this bold vision.”
