Investinor-backed Motimate acquired by Kahoot!
Investinor has been a shareholder in Motimate since 2019. The company now becomes part of the Norwegian technology and e-learning company Kahoot!.
– Investinor has had a very strong journey with Motimate. Our strategy is to develop companies in their early stages, and at some point we pass the baton. Kahoot! is the right new owner for Motimate, and together they can develop one of the world’s most exciting companies based in Norway and on Norwegian technology. We will continue to follow the company as a shareholder in Kahoot, says Investment Director at Investinor, Patrick Sandahl.
Motimate is a SaaS company that develops and sells a digital learning and
communication platform for the corporate market. Their value proposition is to engage the company’s employees through simple and fun digital learning.
According to a press release from Kahoot!, the acquisition of Motimate is strategically very important for the company.
-We are excited to welcome Motimate into the growing Kahoot! Family. The acquisition of Motimate is another exciting step in Kahoot!’s strategy to build the world’s leading learning platform and expand Kahoot! at Work’s offerings even further. The synergies between Kahoot! 360 Spirit, our employee engagement platform Actimo, and now Motimate, will give Kahoot! a stronger position in the market, and help us move faster by adding to key competency areas such as sales and product development, said Eilert Hanoa, CEO, Kahoot!.
Motimate is a spin-off from communications agency Hyper, where founders Rolf Risnes and Lars-Petter Kjos in 2016 bought out the rights to the technology and established Motimate. Investinor first invested in the company in June 2019 and has actively contributed to the scaling of the company.
– Founders Rolf and Lars-Petter have impressed us from day one. At the same time, we see that Motimate fits perfectly into Kahoot!, especially with regard to culture and a common vision of making learning “Fun & Easy”. It is incredibly exciting that we can contribute to building a global star within edtech based in Norway, and we look forward to following their journey going forward, says Øystein Wikan in Investinor.
Founder Rolf Risnes in Motimate says Investinor’s backing has been very important for the development of the company.
– Investinor came in at an ideal time. We had a proven product, but still needed funding and advice to scale further. Being fearless, entrepreneur-friendly and competent, Investinor was a very good match for us. We do not think Motimate would have come this far without Investinor as an owner, and we hope they continue to look for and invest in early stage companies, says Rolf Risnes.