Educational gaming start-up Kahoot! has completed a private placement to a subsidiary of SoftBank Group, raising 1,978 million krone (£166 million).

In a statement, the company said: “Kahoot! is experiencing strong momentum and accelerated adoption as enterprises increasingly seek engaging, trustworthy and user-friendly ways to build corporate culture, educate and interact.

“At the same time, schools and educators are looking to enhance the learning experience, whether virtually or in the classroom. The company intends to use the net proceeds from the private placement to finance accelerated growth through value-creating non-organic opportunities and continue to build a unique platform company.”

ABG Sundal Collier, Arctic Securities and Goldman Sachs International are placement agents to Kahoot! and Advokatfirmaet Thommessen is legal counsel to Kahoot! in connection with the placement.

Date published: 13 October 2020

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