Kahoot secured $215 million from Softbank

Kahoot, an Oslo, Norway-based digital learning services provider, announced that it raised a $215 million funding round.

The money was raised from Softbank, through issuance of 43,000,000 new shares at NOK 46 per share and which will give it a 9.69% control of the shares.

The money will be used for growth through acquisitions and business expansion. Kahoot! is experiencing strong momentum and accelerated adoption as enterprises increasingly seek engaging, trustworthy and user-friendly ways to build corporate culture, educate and interact.

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.

Earlier in 2020, the company raised $28M via private placement from existing VC backer Northzone.