Softbank ploughed more than $200 million into edtech startup Kahoot after seeing this pitch deck
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- SoftBank has bought more than $200 million worth of Norwegian education startup Kahoot’s stock.
- The COVID-19 pandemic has ushered in a new era of remote and digital learning, with experts predicting the sector could be worth as much as $230 billion by 2025.
- Kahoot is already backed by a host of major players, including Disney and Microsoft.
- We got an exclusive look at the pitch Kahoot used to bring SoftBank into the fold.
- Visit Business Insider’s homepage for more stories.
Kahoot, the Norwegian education startup, has won $215 million in funding from Japanese investment giant SoftBank.
The Oslo-based firm, founded in 2013, already boasted some big-name investors, including Disney and Microsoft, and previously raised a grand total of $110 million.
The COVID-19 pandemic has brought with it a spike in demand for home-learning solutions, in an industry already expected to be worth more than $230 billion globally by the end of 2025.
Kahoot offers learning via games, educating kids on everything from learning to read to chess and algebra. The company’s platform plays host to more than 100 million games – many designed by its own users – and has more than a billion active users worldwide.
The firm trades on Norway’s Mehur Market, which is a kind of halfway house between being publicly floated and fully private. SoftBank paid $215 million for 43 million Kahoot shares, valued at $4.99 apiece.
We got an exclusive look at the pitch Kahoot used to convince SoftBank to invest: