Kahoot!, the global learning platform company, announced that the company has raised a gross amount of $28 million in new equity through a private placement of 7.5 million new shares. The private placement also comprised 16.5 million existing shares and amounted to $90 million in total. The transaction took place through an accelerated bookbuilding process managed by ABG Sundal Collier ASA, Arctic Securities AS and Goldman Sachs International as joint bookrunners after the close of market on June 10, 2020.
“2020 has been an extraordinary year for Kahoot! as we have developed and launched new key initiatives helping all our users to make learning more awesome and we continue to build one of the largest learning communities in the world,” said Eilert Hanoa, CEO, Kahoot! “We also added a record number of users and paid subscribers for our offerings in 2020 and we are thrilled to have secured additional capital to help fuel the next phase of Kahoot!’s growth, allowing us to further invest in product innovation, as well as consider new strategic partnerships and acquisitions to further strengthen our platform.”
The additional capital will help fuel further growth in the company and continue expansion of its game-based learning platform to all segments — whether it be organizations, educational institutions or families at home. Kahoot! also plans to invest further in research and development, product innovations, as well as expansion through value-creating strategic expansion opportunities.
Read more: Kahoot! Raises $28 Million In New Equity To Fuel Growth