US-based language learning app developer Babbel closed a $22m series C round yesterday backed by publisher and information provider Reed Elsevier and communications technology manufacturer Nokia.
The corporates, which invested through their respective corporate venturing units, Reed Elsevier Ventures and Nokia Growth Partners (NGP), were joined by Scottish Equity Partners, which led the round, and VC Fonds Technology Berlin, a subsidiary of financial services firm IBB Beteiligungsgesellschaft.
Founded in 2007, Babbel has created what it claims is the highest grossing language learning app in both the iOS and Google Play app stores. It comprises a range of specially designed language learning courses to which uses can subscribe.
Reed Elsevier previously led Babbel’s $10m series B round in 2013, which also featured NGP, VC Fonds Technology Berlin and venture capital firm Kizoo Technology Ventures. Kizoo and VC Fonds had previously provided $2.2m for Babbel’s series A round.