Eilert Hanoa, CEO, Kahoot. Photo credit: Kahoot

Kahoot, the popular gamified e-learning platform, has announced that it’s raised $215 million from SoftBank in exchange for a 9.7% equity stake in the already publicly-traded company. The investment comes at a time when the demand for online learning platforms like Kahoot has greatly soared due to a coronavirus pandemic that has widely affected in-person schooling. Kahoot itself is a game-based online learning platform that lets players create and participate in multi-choice quizzes. The company caters to school and home learning as well as corporate training.

Kahoot says it’ll use the funding raised from SoftBank to finance its growth. The company testifies to a strong period of growth in the last 12 months, where more than 200 million quizzes have been created on its platform. Kahoot makes money by charging for premium features and reported having 360,000 paying subscribers this month, on track to top 400,000 by the end of this year. The company’s 360,000 user count is up 160% year-over-year. 

Just this month, Kahoot hired a Chief Revenue Officer to help guide its operations. The company also made a recent acquisition by the name of Actimo, a corporate learning platform, in a deal worth at least $26 million that’s expected to close in this month of October. 

Kahoot as a company is based out of Oslo, Norway, while maintaining additional offices in the US, UK, Spain, France, Finland, and Denmark.

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