Global learning and engagement platform Kahoot! has 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 news release provided by the company, existing investor SB Northstar LP, a fund managed by a 100% directly owned subsidiary of SoftBank Group, partner to Kahoot! since 2020, is selling its full 15% stake in the company to General Atlantic.
Upon completion of the transaction, General Atlantic is expected to become Kahoot!’s largest shareholder, as per the news release.
With the deal, 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 General Atlantic’s caliber. The team at GA brings deep experience in scaling global education technology and software businesses and positioning market leaders for long-term success, and we look forward to our next phase of momentum in empowering the learning ecosystem 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 founding in 2013, the Oslo-based learning platform has grown into a multifaceted offering and a portfolio of leading brands at the intersection of digital learning and audience engagement.
The engagement and learning platform targets customers across diverse demographics and application verticals through Kahoot! at Work, used by 97% of Fortune 500 companies for corporate learning and engagement; Kahoot! at School, used by approximately 9 million teachers in the classroom; Kahoot! at Home & Study, used by more than 18 million users as an at-home gamified learning solution; and Kahoot! Academy, an online creator community 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 across its work, school, and home markets. With its much-loved brand, product-centric approach, and engaged global user base, Kahoot! is well positioned to scale, and we look forward to supporting Eilert and the full Kahoot! team in the years to come as they reach and engage ever more users worldwide.”
Following closing and subject to shareholder approval, Chris Caulkin is expected to join the Board of Directors.
Since its launch, Kahoot! has hosted hundreds of millions of learning sessions with 8 billion non-unique cumulative participants in more than 200 countries and regions. The Kahoot! Group includes Clever, the leading US K-12 EdTech learning platform, together with the learning apps DragonBox, Poio, Drops, Actimo, Motimate, and Whiteboard.fi. The Kahoot! Group is headquartered in Oslo, Norway, with offices in the US, the UK, France, Finland, Estonia, Denmark, Spain, and Poland.