Educational games startup Kahoot valued at $300 million
Valuation follows $15.4 million in fundraising, company’s worth has tripled in seven months
Norwegian startup Kahoot has been valued at 2.55 billion krone ($300 million) following its latest financing round.
The firm announced yesterday it had completed a private placement to the tune of 126.5 million krone (roughly $15 million) through the subscription of 5.5 million new shares. This was raised by a mix of both new investors and existing shareholders.
This is the second fundraiser the company has completed this year, with a $17 million round in March valuing the firm at $100 million. TechCrunch reports this latest round has tripled that figure, now valuing the company at $300 million.
Established in 2006, Kahoot specialises in educational gaming, starting with its original education app Lecture Quiz. The firm’s platform is now home to 51 million titles, with more than 70 million users and strong support in schools around the world.
Previous investors include Disney, Microsoft and Northzone, although this latest round was specifically targeting at Nordic investment backers and other interested parties within the region.
CEO Åsmund Furuseth said the money will be used to continue building the Kahoot platform and to make acquisitions that are likely to be announced in the next couple of months.