June 12, 2020
Kahoot, an educational gaming platform, secured a $28 million investment to fund international growth and the development of new products
Educational gaming platform Kahoot recently raised $28 million in new equity through a private placement with a group of US and European investors. This also included 16.5 million existing shares amounting to $90 million in total. Northzone Ventures participated in the investment round alongside Kahoot CEO, Eilert Hanoa.
Kahoot will use the funds to continue expanding its services to cater for all market segments, including organisations, educational institutions and families. Some of the capital will be allocated to research and development and developing new products. The company recently released a slew of new features, including integration with Microsoft Teams, the ability to import slides from Microsoft PowerPoint, Google Slides and Apple Keynote, and a partnership with Cambridge Assessment English.
“ We are thrilled to have secured additional capital to help fuel the next phase of Kahoot!’s growth, allowing us to further invest in product innovation, as well as consider new strategic partnerships and acquisitions to further strengthen our platform. ” Eilert Hanoa, CEO of Kahoot! Group
Kahoot, like many EdTech companies, witnessed a large increase in traffic during the Covid-19 pandemic. In the last 12 months, Kahoot reported having over a billion players on its platform from over 200 countries. Headquartered in Norway, Kahoot has offices in the US, the UK, France and Finland. Kahoot enables participants to take part in a live interactive quiz. This gamification approach has proven to be a very successful learning model in recent years.
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“ 2020 has been an extraordinary year for Kahoot! as we have developed and launched new key initiatives helping all our users to make learning more awesome and we continue to build one of the largest learning communities in the world. ” Eilert Hanoa, CEO of Kahoot! Group
More information about Kahoot can be accessed here: https://kahoot.com/company/
