User-generated e-learning site Kahoot acquires Actimo for up to $33M to double down on corporate sector – ClearTips
Norwegian company Kahoot originally made a name for itself with a platform that allows teachers and students to create and share game-based online learning lessons, in the process creating a public list of huge lessons created by their community Is performed. Today the startup – now worth more than $ 2 billion – is announcing the acquisition to promote another segment of its business: corporate customers.
Kahoot has acquired Danish startup Actimo, which provides businesses with a platform to train and engage with employees. Kahoot said the purchase is being made in conjunction with cash and shares, and works for a small company with a total enterprise value of between $ 26 million and $ 33 million, with sales expected to be completed in October 2020 is.
This may seem like a paltry sum in a tech market where companies are currently and regularly seeing millions in paper valuations in the Series A stage, but it also marks a different trajectory for both the founders and their investors. It presents.
According to Pichibook figures, this is actually a strong exit for Actimo, which raised less than $ 500,000. And this puts Actimo under the wing of a company that is growing rapidly globally, finding – like others in the areas of online education and remote work – that the current state of social disturbances caused by Kovid-19 This has resulted in increasing business.
To gauge the scale and growth of Cahoot, the company says it currently has more than 1 billion active users, topping some of the total of 4.4 billion users since launching the platform in 2013. In the last 12 months, some have played 200 games on its platform. In June, when Kahoot announced it had raised $ 28 million in funding, he told us that 100 million games were played.
In view of its growth and future opportunity – even putting the progress of coronoviruses aside, it looks like distance work and distance education will become much more common, at least as a long-term option – for the company. Has also seen an increase in its valuation. With some of its shares traded in Norway’s Merkur market, the company currently has a market cap of 18.716 billion Norwegian krone, which is about $ 2.08 billion in today’s rates. The figure stood at $ 1.4 billion in June.
Targeting the corporate sector as cahoots is not new. The company has been building business in this space for years. It states that in the last 12 months, it entered 2 million sessions with 20 million participant “players” of its corporate training “game”, with some 97% of the Fortune 500 among those users. Customers include Facebook (for sales training), Oyo (for hospitality training and onboard training) and Qualis (for taking elections during a conference), among others.
Seriously, while a lot of Cahoot’s audience is in education, most of its corporate revenue comes, one reason is that it is eager to develop that segment with more services and users.
The purpose with Actimo, Kahoot says, is to build a product set aimed at helping organizations with company culture – which, with many organizations, will now last eight months and work regularly outside their physical offices Wali has increased as a count of entire teams. Priority.
Keeping a team feeling like a team, and for an employer feeling more than a personal feeling in relation to a transaction, is not a simple thing at the best of times. Now, as we continue to physically work away from each other, it will take even more equipment and effort to achieve balance.
In that context, Actimo’s solution is just one aspect, but potentially an interesting one: it has created a platform where employees can track the training they have done or work closely with other colleagues, and feedback Is to provide, and employers can generally use it to track and encourage how employees engage in the company and its various efforts. It counts some 200 enterprises among its customers, including Circle K, Hi3G, and Compass Group, and has a current ARR of $ 5 million.
For comparison, Kahoot, in its Q2 Financials published in August, reported an ARR of $ 25 million, with invoice revenue for the quarter up $ 9.6 million, up some 317% from the same quarter a year earlier. The company has raised some $ 110 million in private funding from the likes of Microsoft and Disney.
As Kahoot seems to have more than just a momentary place in a company’s IT and software fabric – the focus’s attention is always a risk with anything gaming-based – it’s very much on how to take Actimo and pair platforms Works. Along with his other corporate work. You can also imagine a time when it could create a similar dashboard for the educational sector.
“We are excited to welcome the Actimo team to be part of the fast growing Kahoot! Family, “Kahoot! In a statement, Ilert Hanua, CEO. “This acquisition will further expand Kehoot!” The company’s learning offering, providing solutions tailored to the frontline segment, as well as strengthening the company’s culture and engagement between remote and distributed teams across companies of all types and sizes. It continues our growing ambition through M&A by adding strategic capabilities that we can leverage on our global platform. “
“We are thrilled to join forces with Kahoot! In a statement, Actimo CEO SK Gunge said that developing next-level solutions that connect remote employees and increase employee engagement and productivity. “Being a part of Kahut! And with our experience working with innovative and ambitious enterprises across industries, together we can set a new standard for corporate learning and engagement. “