Livemocha, a Seattle, WA-based company which operates the popular language learning site, has raised $8m in a Series B financing round led by August Capital, with participation from existing investor Maveron.
This new capital infusion will enable the company, which has over 4.8m registered members from over 200 countries, to further develop the platform and launch new partnerships in the next 6-12 months.
It brings the total funds raised to date to $14m. Livemocha’s Series A was led by Maveron in December 2007.
Commenting on the round, Shirish Nadkarni, CEO and co-founder of the company, was reported to say: “Closing a significant round of funding is acknowledgement of our progress and underscores the large, disruptive potential of Livemocha”.
“We are excited and well-positioned to realize a very ambitious vision for the future of language learning”, he added.
In conjunction with the financing, Howard Hartenbaum, General Partner from August Capital, has joined Amy Errett of Maveron on Livemocha’s Board of Directors.
FinSMEs
22/12/2009