Babbel Series C HEDLINE 07 2015 EDUKWEST Europe

HEDLINE: Babbel raises $22 million Series C

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Berlin-based language learning company Babbel announced that it closed a $22 million Series C, 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.

Founded in 2007 by Thomas Holl, Markus Witte and Lorenz Heine, Babbel reached profitability in 2011 after switching from a freemium to a premium model. According to the company their apps are downloaded up to 120.000 times per day resulting in a 100% year-over-year growth.

The new funding will be used to accelerate Babbel’s international growth, especially in the United States where it opened an overseas office in January with Thomas Holl leading the team. Babbel will also focus on R&D of new products. In May the company was launch partner of the Apple Watch, bringing its vocabulary learning app to the new device.

Further Reading

Funding Boost for Language App: Babbel Raises $22 Million

Link

babbel.com

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Kay Alexander

Managing Editor at EDUKWEST Europe
Kay Alexander is the Managing Editor of EDUKWEST Europe and Creative Director of Winkler Media.

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  • Michel Nizon

    This press release is so pre-2000 bubble like! “According to the company their apps are downloaded up to 120.000 times per day resulting in a 100% year-over-year growth.” Sorry for my post Bubble question type : What is their Turn over?