Arrowroot Acquisition Corp.
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ROIC.AI
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- Arrowroot Acquisition Corp. Arrowroot Acquisition Corp. (NasdaqCM:ARRW), a special purpose acquisition company sponsored by Arrowroot Capital Management, focuses on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations, primarily targeting high-growth businesses in the enterprise software sector; it conducts no significant independent operations prior to completing a business combination. Founded on November 5, 2020, the company is headquartered in Marina del Rey, California, and draws on its sponsor's over ten years of expertise in investing in software-as-a-service (SaaS) models, business-to-business software optimization, and related operational improvements across global markets. Arrowroot Acquisition Corp. prioritizes targets with attractive unit economics, high operating leverage, strong management teams, limited technology risk, and appropriate valuations, leveraging deep relationships with sellers, financing providers, and target management teams to pursue disciplined, value-centric transactions. In April 2024, Arrowroot Acquisition Corp. shareholders approved and completed a business combination with iLearningEngines, Inc., an AI-powered learning automation and information intelligence provider for enterprise and educational applications; the deal, originally announced in 2023 at a pro forma enterprise value of $1.4 billion, resulted in the combined entity trading on Nasdaq under the ticker AILE, with Arrowroot renamed iLearningEngines, Inc., following satisfaction of a $100 million minimum cash condition funded through trust proceeds, private convertible offerings, and other facilities. iLearningEngines, founded in 2010 and based in Bethesda, Maryland, with additional offices in Dubai, UAE, and multiple locations in India, deploys its proprietary no-code AI platform across regulated verticals including healthcare, education, insurance, retail, energy, manufacturing, and government, serving approximately 1,000 enterprise clients and four million licensed users through secure Knowledge Clouds that enable workflow automation, insights generation, and outcome-based training. The transaction supports iLearningEngines' expansion in AI software, e-learning, and hyperautomation markets, with reported 35% year-over-year revenue growth through the first nine months of 2023 and plans for mergers, acquisitions, and organic growth initiatives.
iLearningEngines, Inc. to Add Michael Moe and Sir Ian Davis to its Board of Directors
Arrowroot Acquisition Corp. Announces Postponement of Special Meeting of Stockholders
Arrowroot Acquisition Corp. Announces Postponement of Special Meeting of Stockholders
US Air Force says it conducted successful hypersonic weapon test in Pacific
Arrowroot Acquisition Corp. Announces Postponement of Special Meeting of Stockholders and New Record Date of Special Meeting of Stockholders
Arrowroot Acquisition Corp. Announces Postponement of Special Meeting of Stockholders
Arrowroot Acquisition Corp. Announces Postponement of Special Meeting of Stockholders
iLearningEngines, Inc. and Arrowroot Acquisition Corp. Announce Effectiveness of Registration Statement and February 12, 2024 Special Meeting to Approve Business Combination
Arrowroot Acquisition Corp. Announces Postponement of Special Meeting of Stockholders
Arrowroot Acquisition Corp. Announces Filing of Registration Statement on Form S-4 in Connection with its Proposed Business Combination with iLearningEngines