On Thursday (11 June), Norwegian learning platform Kahoot announced that it has raised $28m in new equity through a private placement of 7.5m new shares. The company began to list some of its shares on Oslo’s Merkur Market in October 2019.
It said that the private placement also comprised 16.5m existing shares and amounted to $90m in total. The new equity included participation from existing backer Northzone and Kahoot CEO Eilert Hanoa.
To date, Kahoot has raised more than $110m in funding and the educational gaming company is now valued at $1.39bn, according to TechCrunch.
With its latest funding, Kahoot plans to invest in R&D and explore expansion and acquisition opportunities.