Kahoot, a Norwegian e-learning platform valued at more than $2 billion, has acquired Danish start-up Actimo, a platform used for corporate training.
The transaction widens the market for the Norwegian company, which originally focused on gamified lessons, as it adds corporate customers to its client base.
Kahoot said the purchase is being made with a combination of cash and shares, at an enterprise value of $33 million. The sale is expected to complete in October.
According to website Tech Crunch, the transaction will be beneficial for Actimo, which provides a platform for businesses to train and engage with employees, as it has raised less than $500,000 in its previous funding rounds.
Kahoot has grown quickly, especially during the Covid-19 pandemic, which has boosted the demand for online learning. The company said it has more than one billion active users, on top of the 4.4 billion who have used the platform since its launch in 2013.
In June, the company announced it had raised $28 million in funding. Existing investors in Kahoot, which since inception has raised $110 million, include Disney and Microsoft.
According to reports, the game-based learning platform is used in 87% of the top-500 universities worldwide, and by 97% of Fortune 500 companies.
In May, Kahoot bought math app maker DragonBox for $18 million in cash and shares, as it continued to invest in acquisition-driven growth.
Date published: 17 September 2020