The global learning and engagement platform Kahoot! announced that General Atlantic, a leading global growth equity firm, has joined its investor base to support the company’s next phase of expansion.
According to a press release provided by the company, existing investor SB Northstar LP, a fund managed by a wholly owned subsidiary of SoftBank Group, a partner of Kahoot! as of 2020, it is selling its full 15% stake in the company General Atlantic.
Upon completion of the transaction, General Atlantic is expected to become Kahoot!’s largest shareholder, according to a press release.
By agreement, Kahoot! plans to partner with General Atlantic to accelerate further growth initiatives, drive innovation and expand its global footprint in homes, schools and corporations.
Commenting on the development, Eilert Hanoa, CEO of Kahoot!, said,
“We are very grateful to SoftBank for their partnership over the past two years. As Kahoot! continues to pursue its mission to improve lifelong learning by building a leading global learning and engagement platform, we are thrilled to add a partner of the caliber of General Atlantic. The team at GA brings deep experience in scaling the global education technology and software business and positioning market leaders for long-term success, and we look forward to our next phase of momentum in empowering learning ecosystems around the world.”
Kahoot! is on a mission to make learning awesome! It aims to empower everyone, including children, students and employees, to unlock their full learning potential. Kahoot!’s learning platform makes it easy for any individual or corporation to create, share, and host learning sessions that drive compelling engagement. Since its inception in 2013, the Oslo-based learning platform has grown into a diverse offering and portfolio of leading brands at the intersection of digital learning and audience engagement.
The engagement and learning platform targets customers across demographics and app verticals through Kahoot! at work, used by 97% of Fortune 500 companies for corporate learning and engagement; Kahoot! in school, it is used by approximately 9 million classroom teachers; Kahoot! at Home & Study, used by more than 18 million users as a home study solution; and Kahoot! Academy, an online community of creators and marketplace for educational content. Across verticals, Kahoot! services recorded 28 million active users globally in the last twelve months.
Chris Caulkin, managing director and head of technology for EMEA at General Atlantic, said,
“We believe Kahoot! has significant potential for further growth as digital learning solutions continue to be adopted in the work, school and home markets. With its well-loved brand, product-centric approach and engaged global user base, Kahoot! is well positioned to increase and we look forward to supporting Eilert and the entire Kahoot! team in the coming years as they reach and engage more users around the world.”
Following the closing and subject to stockholder approval, Chris Caulkin is expected to join the Board of Directors.
Since launch, Kahoot! hosted hundreds of millions of learning sessions with 8 billion non-unique cumulative participants in more than 200 countries and regions. Kahoot! The group includes Clever, the leading US K-12 EdTech learning platform, along with learning apps DragonBox, Poio, Drops, Actimo, Motimate and Whiteboard.fi. Kahoot! The group is headquartered in Oslo, Norway, with offices in the US, UK, France, Finland, Estonia, Denmark, Spain and Poland.
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