The edtech industry in the Nordics is vibrant and rapidly evolving, with numerous companies developing innovative learning solutions. It features platforms that enhance traditional education through interactive tools, engaging applications, and personalized learning experiences. Startups and established firms offer everything from language learning apps to sophisticated management systems for schools. A key trend is the rise of game-based learning and AI-driven education technology. The region benefits from a strong education system, fostering talent and commitment to quality. As digital transformation accelerates, the Nordics is positioning itself as a hub for cutting-edge educational innovations, attracting attention worldwide.

The roster of investors in this list showcases a mix of corporate giants, venture capital firms, and private equity players, primarily rooted in Sweden, Norway, Finland, and Denmark. With sizes ranging from small teams to large corporate entities, these investors were active in 2024, completing a total of 77 investments in the edtech sector. Founded between 1889 and 2017, institutions like Academedia and EQT Group highlight the region’s investment strength and commitment toward educational technology, crucial for meeting the evolving demands of modern education.

Top 13 EdTech Investors in the Nordics

1. Almi

• Website: almi.se
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden, aiming to enhance their growth and competitiveness through tailored financial solutions and guidance. Almi has been involved in several notable transactions within the edtech sector, including investments in Strawbees, a company that raised approximately $940,968 in March 2021, and Studybee, which secured funding of $483,751 in April 2019 and $495,195 in August 2017. Additionally, Almi invested in Learnster, which raised $621,401 in November 2019 and an undisclosed amount in September 2018. These transactions highlight Almi's commitment to supporting innovative educational technology companies, reinforcing their position as a relevant player in the edtech investment landscape.

2. Sparkmind.vc

• Website: sparkmind.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: sparkmind-vc

Sparkmind.vc is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2017. The firm specializes in the learning sector, investing in innovative educational technology startups to enhance learning experiences. Sparkmind.vc has been involved in several significant transactions in the edtech space, including a $1.5 million seed round for CanopyLAB, a Swedish edtech firm Lexplore that raised €5 million, and a SEK 46 million funding round for Dugga, a platform for digital exams in schools. Additionally, they led a bridge financing round for Kide Science, a Finnish startup focused on early science education, which raised €1 million. These investments highlight Sparkmind.vc's commitment to supporting the growth of companies that are transforming education through technology.

3. Verdane

• Website: verdane.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1985
• Headcount: 51-200
• Number of deals in 2024: 7
• LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments in technology-enabled companies, providing capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, primarily targeting technology companies looking to enhance their market position and operational efficiency. Notably, Verdane has made significant investments in the edtech sector, including the acquisition of Eduhouse in June 2021 and the participation in funding rounds for CareerFoundry, a platform for career development, and Studytube, a Netherlands-based learning platform that raised $30 million in a Series B funding round. Additionally, they have invested in Schoolido, further demonstrating their commitment to the edtech industry.

4. Academedia

• Website: academedia.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1996
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: academedia

AcadeMedia AB, founded in 1996 and based in Stockholm, Sweden, is a leading education provider that serves approximately 200,000 individuals annually across various educational levels, including preschool, primary, secondary, and adult education. The company is committed to quality education and development opportunities for its students. Academedia has been actively involved in the acquisition of several educational institutions, such as KompetensUtvecklingsInstitutet Sverige in 2013, Plushogskolan in 2011, and Hermods in 2014. Most recently, in August 2023, they acquired Winford College, which significantly expanded their operations in the Netherlands, indicating their strategic growth in the education sector. These transactions highlight Academedia's focus on enhancing educational services, which is a key aspect of the edtech landscape.

5. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a prominent investment firm founded in 1994, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Based in Stockholm, Sweden, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the edtech sector, including its learning, which raised over $61 million in 2013, and Studienkreis, which secured funding in 2017. More recently, they invested in Compass Education in 2024, further solidifying their presence in the education technology landscape. Additionally, EQT has engaged in early-stage investments with companies like ArtMaster, indicating their interest in nurturing innovative educational solutions.

6. Kahoot!

• Website: kahoot.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2012
• Headcount: 501-1000
• LinkedIn: kahoot

Kahoot! is an educational technology company based in Oslo, Norway, founded in 2012. It offers a game-based learning platform designed to engage users through interactive quizzes and educational games, catering to teachers, students, businesses, and families. Kahoot! operates on a subscription model, providing various features and content to enhance learning and training experiences. The company has made significant strides in the edtech space through strategic acquisitions, including:1. **Clever**: Acquired for up to $500 million, this digital learning platform enhances Kahoot!'s presence in the US market.2. **Whiteboard.fi**: An online whiteboard tool for teachers, acquired for a total of $6 million, aimed at expanding Kahoot!'s offerings for educators.3. **DragonBox**: A math app company acquired for $18 million, enhancing Kahoot!'s educational offerings in mathematics.4. **Motimate**: An employee engagement and learning software provider acquired for approximately $26 million, further diversifying Kahoot!'s portfolio.5. **Poio**: Acquired for $6.5 million, contributing to Kahoot!'s educational resources.These transactions highlight Kahoot!'s active role in the edtech industry and its commitment to enhancing educational experiences through innovative technology.

7. Seed Capital Denmark

• Website: seedcapital.dk
• Type: Venture Capital
• Headquarters: Frederiksberg, Frederiksberg, Denmark
• Founded year: 2004
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: seed-capital-denmark

Seed Capital Denmark is a venture capital firm based in Frederiksberg, Denmark, founded in 2004. The firm specializes in providing seed funding and advisory services to technology startups, with a focus on sectors such as SaaS and Fintech. Notably, Seed Capital has invested in edtech companies like Skidos Labs, which raised capital to develop educational games aimed at enhancing children's learning experiences. Additionally, they have supported eloomi, a company that offers a platform for employee development and training, further showcasing their interest in educational technology. With a strong track record of successful investments, Seed Capital supports its portfolio companies from seed stage to exit, helping founders navigate their growth journey and secure further funding.

8. Inventure

• Website: inventure.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2005. The firm focuses on backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been involved in several notable transactions in the edtech sector, including a Series A investment in Lingvist, a company that specializes in adaptive language learning, where they participated in a funding round that raised $8 million to support Lingvist's growth in various international markets. Additionally, Inventure has invested in ThingLink, an image tagging platform that enhances interactive learning experiences, showcasing their commitment to supporting innovative educational technologies. With a total of 9 investments in 2024, Inventure continues to play an active role in the tech startup ecosystem, including the edtech industry.

9. Sanoma

• Website: sanoma.com
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1889
• Headcount: 5001-10000
• LinkedIn: sanoma

Sanoma is a media and educational publishing company based in Helsinki, Finland, founded in 1889. The company provides a wide range of learning solutions and media content, including printed and digital learning materials and teaching platforms. Sanoma serves educational institutions and media consumers across multiple European countries. Notably, Sanoma has made several strategic acquisitions in the edtech sector, including:1. **Santillana Spain**: Acquired in 2020 for EUR 465 million, this company is a leading provider of K-12 learning materials, enhancing Sanoma's position in the Spanish K-12 learning services market.2. **itslearning**: Acquired in 2019, this international learning platform provider had net sales of approximately EUR 30 million in 2018, and continues to operate as a stand-alone company.3. **Iddink Group**: Announced in 2018, this acquisition of a leading Dutch educational platform and service provider for EUR 277 million aims to strengthen Sanoma's Learning business.4. **Nowa Era**: Acquired in 2007, this Polish educational publishing company aimed to bolster Sanoma's position in the European educational publishing market.These transactions highlight Sanoma's active role in the edtech industry, focusing on enhancing educational resources and platforms.

10. Nordic Makers

• Website: nordicmakers.vc
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2016
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: nordic-makers-vc

Nordic Makers is a venture capital firm based in Copenhagen, Denmark, founded in 2016. The firm specializes in investing in early-stage technology companies, providing both funding and advisory services to help startups navigate challenges and achieve growth. Their portfolio reflects a commitment to fostering entrepreneurship in the Nordic region, with a diverse range of innovative companies across various sectors. Notably, Nordic Makers has invested in several edtech companies, including Labster, which raised $21 million in a Series B round to enhance virtual lab experiences for students, and Aula Education, which focuses on creating a digital campus experience. Their participation in these transactions highlights their engagement in the education technology space, alongside their broader investment strategy.

11. Visma

• Website: visma.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1996
• Headcount: 10001+
• Number of deals in 2024: 16
• LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, founded in 1996. It specializes in providing cloud-based accounting, payroll, invoicing, and HR solutions, primarily serving small and medium businesses as well as public sector organizations. Visma operates through a network of entrepreneurial companies, contributing to its innovative software offerings. Notably, Visma has made significant strides in the edtech sector with its acquisition of PlusPort, a cloud-based learning and development solution provider, which enhances its software offerings in the Netherlands and internationally. Additionally, the recent acquisition of Meebook further indicates Visma's interest in educational technology, positioning it as a player in the edtech market. These strategic acquisitions reflect Visma's commitment to expanding its portfolio to include solutions that facilitate learning and development, thereby strengthening its presence in the edtech industry.

12. Creandum

• Website: creandum.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. They specialize in supporting early-stage entrepreneurs in building global, category-defining companies by providing venture capital investment, strategic support, and networking opportunities. Creandum has a diverse portfolio, with investments across various sectors, including fintech and health tech. Notably, they have made significant investments in the edtech space, including a $17 million Series B funding round for Kahoot! in 2018 and a $10 million Series A funding round for the same company in 2017. Additionally, they participated in a $6.95 million venture round for its learning in 2010. These transactions highlight Creandum's commitment to fostering innovation in the education technology sector, making them a relevant player in the edtech investment landscape.

13. Heartcore Capital

• Website: heartcore.com
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and focuses on building long-term relationships with entrepreneurs. Heartcore has been involved in various transactions, including notable investments in the edtech sector. For instance, they participated in a pre-seed funding round for Luca, a Mexican EdTech startup, which raised $3 million to enhance its technology and product development. Additionally, their investment activities reflect a commitment to supporting innovative educational solutions, aligning with their mission to empower entrepreneurs across various technology sectors.

EdTech Insights: Key Investors in the Nordics

Want to find more investors focusing on the edtech industry?

With Inven, you'll also get to know:

• Deal History: Number of deals and their sizes.
• Portfolio: Companies they've invested in.
• Contact data: Key dealmakers, including their emails and phonenumbers.
• ...and much more!