Kahoot! raised $28M via private placement from existing VC backer Northzone.
Kahoot!, an Oslo, Norway-based platform for user-generated educational games, raised $28M via private placement.
The money was provided by existing VC investor Northzone. The deal was part of a larger agreement including a $62M deal in shares sold in a secondaries transaction.
Kahoot, founded in 2011 as Mobitroll out of NTNU Technology Transfer by Johan Brand, Jamie Brooker, Åsmund Furuseth and Morten Versvik., has developed a game platform that is used for education by 70 million users a month.
Kahoot! is listed on Norway's Merkur, a sort of partially public market, with a full IPO expected in 2021. The company's current market cap is $1.4B and it expects a 2020 turnover of $32-38M.