OSLO, Norway, March 15, 2018 — Kahoot!, the game-based learning platform and one of the fastest growing learning brands globally, today announced completion of a $17 million share issue funding. The funding round was led by Datum Invest AS, Northzone, Creandum, Microsoft Ventures and Kahoot! Chairman Eilert Hanoa.
The additional funding will be used to strengthen the company for further growth through accelerated development of the Kahoot! platform and commercial services. Offering Kahoot!’s premium subscription services to all customer segments is the foundation for delivering positive financial results in 2019.
“Kahoot! has reached several impressive milestones since its start in 2012: reaching 70 million monthly active users and launching several new commercial services,” said Eilert Hanoa, Chairman of the Board.
Kahoot! has strong user growth, paying customers in over 100 countries and a clear strategy for revenue growth and reaching profitability during the next 18 months.
“We are thrilled to secure additional funding from new and existing investors, so that we can accelerate development of the Kahoot! platform and extend premium subscription services to all our users. Our goal is to keep the Kahoot! experience free for teachers and students around the world. And we will continue to do what we do best: To make learning awesome!,” said Åsmund Furuseth, CEO of Kahoot!.
Kahoot!’s investment bank ABG Sundal Collier managed this funding round. To date Kahoot! has raised $43 million.
Since its launch in 2012, Kahoot! has turned game-based learning into a pop culture phenomenon. The game platform now hosts over 70 million monthly active users and a library with more than 50 million learning games, created and shared by fans in more than 200 countries. Kahoot! is on a mission is to unlock the deepest potential of every learner, regardless of age or context, by making learning fun, magical, and engaging through games. Kahoot! is headquartered in Oslo, Norway with offices in London, Austin and Palo Alto. Let’s play!