Kahoot! Completes Series A Extension Funding of $10 million

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Jul 19, 2017, 09:00 ET

OSLO, Norway, July 19, 2017 /PRNewswire/ -- Kahoot!, the game-based learning platform and one of the fastest growing learning brands, today announced that it has added $10 million of funding to its Series A financing round. This Series A extension funding round was led by new private investors from Norway, together with current investors Microsoft Ventures, Creandum and Northzone.

The financing will be used to fund Kahoot!'s higher investment in product development and expansion of its commercial activities. This round brings the total Series A funding to $20 million, including $10 million closed in September 2016.

"This additional funding comes at a very important stage of Kahoot's development," said Eilert Hanoa, Chairman of the Board. "The Kahoot! team has done a tremendous job growing the user base, which is up more than 60% year-over-year to 50 million monthly active users today, and this funding will help the company drive continued user growth and revenue."

"We are thrilled to receive this investment from new and existing investors," said Erik Harrell, CEO, Kahoot! "We are excited about increasing our investment in our commercial activities and in product development, including in mobile, with mobile being the ubiquitous platform that will enable learning anytime, anywhere among learners of all ages and in all contexts."

Kahoot! recently announced an iOS and Android beta version of its mobile app, that brings the magic of game-based learning outside the physical classroom: teachers can send after-class challenges to students as homework and learners can continue playing for revision and fun wherever they are, anytime. The app will launch during the new school year.

About Kahoot!

Since its launch in 2013, Kahoot! has turned game-based learning into a pop culture phenomenon. The game platform now hosts over 50 million monthly active users and a public library of over 20 million learning games, created and shared by fans in more than 180 countries. Kahoot! is on a mission to make learning awesome, by unlocking the deepest potential of every learner — regardless of location, age or context. Kahoot! (www.kahoot.com) is a global company with offices in Oslo, London, and Austin. Let's play!

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SOURCE Kahoot!