SEP leads $22m investment in Babbel
Scottish Equity Partners (SEP) has led a $22 million investment in Babbel, the leading app for language learning. Funding will drive further growth and product development at the Berlin based business.
Babbel has been profitable since 2011 with its mobile app seeing up to 120,000 downloads per day – currently the highest grossing language learning app in both the iOS App Store and the Google Play Store. With its recently released app for Apple Watch, Babbel presents a strong vision for the future of language learning.
“Babbel is defining a new market and revolutionizing the way people learn languages,” says Babbel Inc. President Thomas Holl.
“In SEP we’ve gained a high-profile partner that shares our vision of making learning easy and fun for everyone. This investment enables us to fully capitalize on a significant market shift towards self-motivated learning.”
Stuart Paterson, Partner at SEP who joins Babbel’s Board of Directors adds: “Babbel sets the standard for online language learning, and its strong international footprint is a reflection of that. We see significant growth potential in this market and are delighted to support the company as it expands further.”