The online tutoring industry in the Nordics is experiencing substantial growth, driven by increasing demand for flexible and accessible learning solutions. Companies range from innovative tech startups to established educational institutions, offering services like personalized tutoring, course materials, and interactive learning platforms. Trends toward digitization and remote learning are reshaping traditional models, allowing students to connect with expert tutors regardless of location. This momentum suggests a promising future where tailored educational experiences will become commonplace. As parents and institutions seek effective online solutions, the potential for expansion and modernization within this sector remains significant.

The list highlights a variety of investors, including private equity firms, venture capitalists, and corporate backers. Most of these investors are headquartered in Stockholm, Helsinki, and Oslo, with several established since the 1990s. The group collectively engaged in over 100 transactions in 2024, showcasing their commitment to investing in the online tutoring sector. With varying firm sizes and investment strategies, these investors are crucial in accelerating growth for emerging educational technology companies across the Nordic region.

Top 16 Online Tutoring 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, that provides loans, risk capital, and business development support to small and medium-sized enterprises. Founded in 1994, Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among their notable transactions, Almi has invested in Studybee, which raised funds in both 2017 and 2019, indicating a commitment to the online education space. Additionally, they have invested in Strawbees and Haldor, which, while not directly related to online tutoring, showcase their broader interest in innovative and educational technologies. This diverse portfolio reflects Almi's strategy of supporting companies that contribute to the development of competitive and growth-oriented businesses in various sectors, including education.

2. 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 based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the education sector, including a venture round for Studienkreis, a tutoring service, and a recent acquisition of Universidad Europea, a leading private higher education platform in Spain and Portugal. This acquisition aims to enhance digital initiatives and expand existing campuses, showcasing EQT's commitment to advancing educational opportunities. Their involvement in these transactions highlights their strategic interest in the education and online tutoring markets.

3. 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 transform learning experiences. Sparkmind.vc has been actively involved in several relevant transactions, including a seed round for Swap Language, which raised over $2 million, and a significant investment in Lexplore, a Swedish EdTech firm that raised €5 million to expand its operations. Additionally, they led a Series A funding round for Dugga, a platform for digital exams in schools, which raised approximately $5.5 million. These transactions highlight Sparkmind.vc's focus on enhancing educational offerings and their commitment to supporting the online tutoring and broader educational technology landscape.

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. The company offers a diverse range of educational services, including preschool, primary, secondary, and adult education. AcadeMedia has been actively expanding its operations through strategic acquisitions. Notable transactions include the acquisition of Winford College in August 2023, which enhances their presence in the Dutch education market, and the acquisition of Hermods in January 2014, which is known for its adult education and online learning services. Additionally, their acquisition of KompetensUtvecklingsInstitutet Sverige in 2013 further indicates their commitment to expanding educational offerings, potentially including online tutoring. These transactions highlight AcadeMedia's focus on quality education and development opportunities, making them a relevant player in the online tutoring space.

5. 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, focusing on digitalization and decarbonization trends. Verdane provides capital and hands-on support to help businesses scale and enhance their market position. Notably, Verdane has made several investments in the online education sector, including the acquisition of Eduhouse, a company that likely contributes to online learning solutions. They also invested in Schoolido, which raised $1.6 million in a venture round, indicating their commitment to supporting educational technology. Additionally, Verdane's investment in CareerFoundry, which raised over $5 million, further emphasizes their focus on companies that enhance learning and career development. Their acquisition of Lingit, a company specializing in multilingual literacy support for dyslexics, showcases their interest in innovative educational solutions. Overall, Verdane's portfolio reflects a strong alignment with the online tutoring industry.

6. 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 software solutions for accounting, payroll, invoicing, and HR, primarily serving small and medium businesses as well as public sector organizations. Visma has a strong presence in Europe and Latin America, operating through a network of entrepreneurial companies. Notably, Visma has made strategic acquisitions that enhance its software offerings, including the acquisition of PlusPort in 2019, which is a cloud-based learning and development solution provider. This acquisition reflects Visma's commitment to expanding its capabilities in the education sector. Additionally, Visma's acquisition of Meebook in 2024 and Your Next Concepts in 2025 further demonstrates its interest in innovative solutions that may intersect with online learning and tutoring. These transactions indicate that Visma is not only focused on traditional software solutions but is also exploring opportunities in the educational technology space.

7. 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 actively involved in the online education sector, with notable investments including Lingvist, which raised $8 million in a Series A round to enhance its adaptive language learning platform, and Leya AI, which secured €1M in pre-seed funding to develop its AI English Tutor. These transactions highlight Inventure's commitment to supporting innovative solutions in the online tutoring industry.

8. 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 experiences. The company has made significant acquisitions to bolster its position in the EdTech market, including:1. **Whiteboard.fi**: Acquired for USD 6 million, this online whiteboard tool enhances Kahoot!'s platform for teachers, expanding its offerings in the EdTech space.2. **Drops**: A language learning platform acquired for USD 31 million, aimed at integrating language learning capabilities into Kahoot!'s global learning platform.3. **WeWantToKnow (DragonBox)**: This math app company was acquired for $18 million, enhancing Kahoot!'s educational offerings in mathematics.4. **Clever**: A digital learning platform acquired for up to $500 million, marking a significant move to enhance Kahoot!'s presence in the US market.5. **Motimate**: Acquired for approximately $26 million, this employee engagement and learning software provider further diversifies Kahoot!'s educational tools.

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's customer base includes educational institutions and media consumers across multiple European countries. Notably, Sanoma has made several strategic acquisitions to strengthen its position in the educational sector. In 2019, they acquired itslearning, an international learning platform provider, which enhances their digital learning offerings. In 2018, they announced the acquisition of Iddink Group, a leading Dutch educational platform, for EUR 277 million, further solidifying their commitment to online education. Additionally, their acquisition of Santillana Spain in 2020 for EUR 465 million positions them strongly in the K-12 learning materials market. These transactions highlight Sanoma's active role in the online tutoring and educational technology space.

10. Business Finland

• Website: businessfinland.fi
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2018
• Headcount: 501-1000
• Number of deals in 2024: 26
• LinkedIn: business-finland

Business Finland is a public entity established in 2018 that supports Finnish companies in their growth and internationalization efforts. It offers funding, consulting services, and market opportunities to help businesses innovate and succeed in global markets. Notably, Business Finland has participated in funding rounds for Kide Science, a Finnish edtech startup that focuses on innovative learning experiences. Kide Science raised €1M in a bridge financing round in 2022, with Business Finland being one of the investors alongside others like Sparkmind Fund and Tesi. Additionally, Kide Science has received earlier funding in seed and pre-seed rounds, indicating a consistent interest in supporting educational technology. Business Finland has also been involved in grants for other educational initiatives, such as Lyfta, which further highlights their commitment to fostering growth in the education sector.

11. 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. With a focus on nurturing companies from seed to IPO, Creandum provides venture capital investment, strategic support, and networking opportunities across various sectors, including fintech and health tech. Notably, they have invested in Kahoot!, a popular online learning platform, participating in both Series A and Series B funding rounds, which totaled $27 million. This investment aims to enhance the platform's development and expand its premium subscription services. Additionally, Creandum has invested in 'its learning', a company that provides digital learning solutions, further emphasizing their commitment to the education technology sector. Their diverse portfolio showcases their ability to identify and support innovative companies that are shaping the future of learning.

12. 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 and provides funding and advisory services to help startups navigate challenges and achieve growth. Their portfolio includes a variety of innovative companies across different sectors, reflecting their commitment to fostering entrepreneurship in the Nordic region. Notably, Nordic Makers has invested in several education-related companies, including Scrimba, which raised $187,764 in a seed round in 2017, and Aula Education, which focuses on creating a digital campus for educational institutions. Aula has received multiple rounds of funding with participation from Nordic Makers, highlighting their interest in the online education space. Additionally, they have invested in Labster, a company that provides virtual lab simulations for students, further emphasizing their focus on educational technology.

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 several notable transactions, including a significant investment in Luca, a Mexican EdTech startup that raised $3 million in pre-seed funding to enhance its technology and expand operations. This investment highlights Heartcore's commitment to the education sector. Additionally, they participated in a recent seed round for Luca, raising $2 million, further demonstrating their ongoing support for innovative educational solutions. While they also invest in other sectors, their engagement in EdTech positions them as a relevant player in the online tutoring landscape.

14. Schibsted

• Website: schibsted.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1839
• Headcount: 5001-10000
• Number of deals in 2024: 3
• LinkedIn: schibsted-asa

Schibsted Media Group is a prominent media company based in Oslo, Norway, with a history dating back to 1839. Initially focused on publishing, Schibsted has transitioned to a digital marketplace model, offering platforms for classified ads and second-hand goods. The company has made several investments in various sectors, including education. Notably, Schibsted invested in Mindler, which raised $17,239,596 in a venture round in July 2021, indicating a commitment to the online education and mental health space. Other investments include Poio and Yepstr, which, while not directly related to online tutoring, reflect Schibsted's interest in innovative digital solutions. This diverse investment strategy positions Schibsted as a potential player in the online tutoring industry.

15. Evli Growth Partners

• Website: egp.fi
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2018
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn: evli-growth-partners

Evli Growth Partners is a venture capital fund based in Helsinki, Uusimaa, Finland, founded in 2018. The firm specializes in investing in growth companies, providing not only capital but also strategic guidance and support to help these companies scale effectively. They focus on fostering collaboration between investors and founders to drive sustainable growth. Evli Growth Partners operates primarily in the investment management sector, targeting innovative startups across various industries. Notably, they have invested in Preply, an online language learning platform that raised approximately $49.4 million in a Series C funding round, and Perlego, a startup that applies a subscription model to academic textbooks, which raised $50 million in a Series B funding round. These transactions highlight their active role in the online education sector, particularly in tutoring and academic resources.

16. Viking Venture

• Website: vikingventure.com
• Type: Venture Capital
• Headquarters: Trondheim, Trøndelag, Norway
• Founded year: 2001
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: viking-venture

Viking Venture is a venture capital firm based in Trondheim, Trøndelag, Norway, founded in 2001. The firm specializes in the software sector, particularly focusing on fast-growing Nordic B2B software companies. They provide capital and strategic support to enhance growth and operational efficiency, including mentoring, recruitment assistance, and guidance on financing and successful exits. Viking Venture has been involved in several notable transactions in the education technology space, such as its learning, Skooler, Humly, and Attensi. Humly, a Swedish EdTech company, received funding to address teacher shortages, while Attensi, a Norwegian corporate training startup, raised significant capital to expand its operations. These investments highlight Viking Venture's engagement in the online tutoring and educational technology sectors, making them a relevant player in this field.

Online Tutoring Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Sparkmind.vc	Helsinki, Uusimaa, Finland	1-10	2017	2
Academedia	Stockholm, Stockholm, Sweden	10001+	1996	1
Verdane	Oslo, Oslo, Norway	51-200	1985	7
Visma	Oslo, Oslo, Norway	10001+	1996	16
Inventure	Helsinki, Uusimaa, Finland	11-50	2005	9
Kahoot!	Oslo, Oslo, Norway	501-1000	2012	0
Sanoma	Helsinki, Uusimaa, Finland	5001-10000	1889	0
Business Finland	Helsinki, Uusimaa, Finland	501-1000	2018	26
Creandum	Stockholm, Stockholm, Sweden	11-50	2003	17
Nordic Makers	Copenhagen, Denmark	1-10	2016	2
Heartcore Capital	Copenhagen, Denmark	11-50	2007	17
Schibsted	Oslo, Oslo, Norway	5001-10000	1839	3
Evli Growth Partners	Helsinki, Uusimaa, Finland	1-10	2018	3
Viking Venture	Trondheim, Trøndelag, Norway	11-50	2001	1

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