Language Learning Company Closes $10M Round

BABBEL.COM CLOSES $10 M ROUND: Berlin-based closed a $10 milllion series B round led by Reed Elsevier Ventures (which joins the board) and included Nokia Growth Partners and existing investors IBB Beteiligungsgesellschaft (via its VC Fonds Technologie Berlin), and Kizoo Technology Capital. Babbel, which is owned by Lesson Nine GmbH, had previously raised $2.2 million. Babbel, which helps people learn 13 languages, is used in over 190 countries with a strong base in Europe. More details from TechCrunch. Blogger Kirsten Winkler offers here a smart analysis and details on competitor, LiveMocha (which has raised $14 million).

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