Babbel Completes $22M in Series C Funding Round
Summary
Babbel, a New York and Berlin, Germany-based app for language learning, completed $22m in Series C funding round.The round was led by Scottish Equity Partners (SEP) with participation from existing investors Reed Elsevier Ventures, Nokia Growth Partners (NGP), and VC Fonds Technology Berlin managed by IBB Bet.In conjunction withe the funding, SEP Partner Stuart Paterson joined Babbel’s Board of Directors The company intends to use the funds to continue to grow.Founded in 2007 by Markus Witte (Chief Executive Officer), Thomas Holl (President, Babbel Inc.) and Lorenz Heine (Chief Innovation Officer), Babbel provides a language learning app that motivates users to keep learning via a team of education and language experts who create specific courses for each language pair.Currently, it offers 14 learning languages (Spanish, French, English, German, Italian, Brazilian Portuguese, Turkish, Polish, Indonesian, Dutch, Norwegian, Danish, Swedish and Russian).