Kahoot Quiz App Raises Another $17 Million in Funding
Education quiz app Kahoot has passed yet another milestone after it has successfully completed a huge subscriber base of over 70 million. The Norway based start-up had earned some funds earlier and has garnered another $17 million that valuates over $100 million.
The company had gone recently through a change in its leadership as its American CEO Eric Harrell has been replaced by one of the co-founders Asmund Furuseth after the former was kind of disagreeing with the company’s strategic direction.
It is learned that Harell was actually keen on developing quizzes that went parallel with publishers in education and known media brands including Disney. The board, on the other hand, was more focused on being cash-flow positive as it has already earned paying subscribers in more than 100 countries.
Until now, the total funding that has been raised is $43 million which the company wants to invest in developing and moving further its premium subscription services. Led by Microsoft Ventures, Northzone, Datum Invest AS, Creandum and Kahoot chairman Eilert Hanoa, it aims to be cash-flow positive by early 2019.
The company is in plans to generate from new areas while offering the basic app for free to students and teachers in the K-12 range. Few of the areas that the company is looking to generate cash flow is by including tiers to enable companies to build and offer games to the subscribers.
It’s already picking up business from Uber, Facebook and PwC and others with most of the companies using Kahoot for things like sales and HR.
On the other hand, Kahoot wants to offer regular subscription for students and teachers. The company’s former CEO said back in January that they have noticed many subscribers willing to pay for additional services to equip students, teachers and parents.
Kahoot is treading slowly and is interested in pursuing a steady path as it grows into the future. This is because it has seen companies like Rovio that grew rapidly with their success of Angry Birds and didn’t find any bigger business after the franchise waned.