Kognity raised $4.4M from Norrsken Foundation and Gullspång Invest.

Kognity, a Stockholm, Sweden-based company providing a SAAS for education, announced completing a SEK 40M ($4.4M) in capital raise.

The money was provided by exisiting investors including Norrsken Foundation and Gullspång Invest and will be used to fuel the international growth ambitions of the company.

Kognity, founded in 2015 by Hugo Wernhoff and Nicholas Johansson, developed a software solution for digital textbooks that adapt to the learning needs of students and help teachers coach their students through their education. The company has 80 employees and was breakeven in 2018, at a SEK 20M ($2.2M) turnover.

Prior to this deal, Kognity raised about $3.5M.