Kognity, a Stockholm-based EdTech company that provides intelligent textbooks to school students globally, has raised $20 million from leading Nordic growth investor Alfvén & Didrikson, the company has announced recently.
Announcing the news on his LinkedIn page, Co-founder and CEO Hugo Wernhoff said “the investment will allow the company to accelerate its efforts to build better learning for the world’s school students, as well as power its upcoming expansion within US state curricula.”
Founded in 2014 and launched its learning platform the next year, Kognity aims to radically improve learning by providing intelligent textbooks to schools globally, allowing students to learn things faster and more effectively, and teachers to help students reach their goals. Initially targeting international curricula, the company has today established a global school customer base across more than 100 countries on 5 continents.
Kognity provides interactive textbooks for schools to engage students with interactive materials such as videos and 3D models, and insights to get an overview of students’ progress in their assignments and reading. It also allows schools to access over 10,000 expertly-curated questions and create differentiated assignments, and promote independent learning by providing students with a wealth of opportunities for self-study.
Commenting on the latest development, Hugo Wernhoff said in a press statement,
“We are beyond excited to start this next phase of our journey. Since our launch, we have helped over ¼ million teachers and students across all continents to better learning outcomes. During the Covid pandemic, many schools have relied on Kognity to continue their operations. But we’re only at the beginning of our journey. We’re convinced that Kognity can play a role on a global scale in solving the massive challenges facing education today. Expanding to US high schools, as our first national curriculum market, is an important step towards that.”
Kognity claims 90% of teachers using its platform say it improves student performance and helps them save at least 3 hours per week. The company has recently announced that it has become part of the Association of International Schools in Africa (AISA).
Maria Åhr, CEO and Partner at Alfvén & Didrikson, commented on the investment,
“We are very impressed by Kognity, its growth, and its established market positions in existing verticals. We are now looking to back Kognity’s purposeful expansion to the large and important US high school market. Over the longer term, we believe Kognity is one of few players that can address inequity in education globally. This is a meaningful mission that we are proud to support.”
With the investment, Maria Åhr has joined Kognity’s board of directors together with Ken Liebkind, also a partner at Alfvén & Didrikson.
Alfvén & Didrikson has invested in fast-growing Northern European companies such as Trustly, Quinyx, Acast, Mentimeter, Sympa, and Klevu.