An investor consortium led by Goldman Sachs, General Atlantic, Kirkbi Invest, and Glitrafjord AS among others, has agreed to acquire Kahoot, an Oslo-based provider of education software for schools and enterprises. The consortium’s offer values Kahoot at $1.72 billion.
The consortium buying Kahoot plans to help the company further grow its business. As part of the initiative, the software maker will receive access to the capital needed to significantly enhance its go-to-market strategy. On the other hand, Kahoot revealed that it plans to make acquisitions following the completion of this deal.
“Since General Atlantic partnered with Kahoot! in September 2022, the company has maintained significant momentum across key strategic initiatives, including scaling its enterprise offering and global subscriber base,” said General Atlantic managing director Chris Caulkin. “Through this transaction, we are pleased to deepen our commitment to support Kahoot!’s long-term growth in collaboration with the broader co-investor group.”
Gamified edtech platform
Kahoot, a game-based learning platform, was founded in 2012 by Morten Versvik, Johan Brand, and Jamie Brooker. It strives to make it easy to create, share, and play learning games or trivia quizzes in minutes. Furthermore, it combines fun and social ways to unlock the learning potential within the learners, regardless of age or ability. The platform has categorised its offerings into four categories – School, Work, Home, and Academy.
Through its platform, it provides ways to play, distance learning, assessment, interactive lessons, higher education, school admins, learning apps for schools, e-learning, presentation for work, and other engaging learning content for the academy.
Companies use the enterprise version of Kahoot to support their employee training programs. Quizzes powered by its platform are also useful for other tasks, such as increasing attendee engagement at business conferences.
