Reed Elsevier Ventures has led a $10m Series B round for online foreign languages learning system maker Babbel to help it expand its global presence.
The round was also supported by Nokia Growth Partners and existing investors IBB Beteiligungsgesellschaft and Kizoo.
The new funds are in addition to the $2.2m in equity and debt previously raised by Babbel, which has seen its revenues soar 200 per cent annually since 2011.
The Berlin-based business will use the French funds to broaden its presence in Europe, the Americas and emerging markets. It will also look to deepen its relationships with hardware makers and media companies around the globe.
Walter Masalin, Nokia Growth Partners principal, said, “Nokia Growth Partners believes that in a converged digital world, every business must be mobile and this principle drives our investments.
“As mobile transforms the way people learn, Babbel’s flexible and efficient solution supporting multiple platforms means it is well positioned to capitalize on this trend.”
Last month Nokia growth Partners led a $14m Series C funding round for US mobile advertising group Verve Mobile, which came a fortnight launched its third fund with a further $250m long term commitment from parent company Nokia.
With $600m under management, Nokia has market-focused teams in the US, Europe, India and China.
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