UK-based brain training app Peak has raised $7million in a series a funding round led by Creandum, the parties have announced.
The business will use the funding to add to the team of neuroscientists and engineers working on mapping cognitive activity and using the information to produce increasingly effective cognitive brain training applications.
Through gamification Peak is designed to give users a deep insight into their cognitive health and allow them to increase it through a suite of mental challenges.
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The company monetises this to some extent by offering the Pro version for users to upgrade to. Options available in the Pro version include the ability to compare cognitive function against other users – factoring in age and other variables.
The app was named one of Apple’s Apps of the Year in 2014. It can be used on all major mobile platforms as well as containing functionality for the new Apple Watch.
The latest funding round, which takes total investment up to $10 million, was led by Creandum – with participation from existing investors DN Capital, London Venture Partners (LVP) and Qualcomm Ventures.
DN Capital partner Schlenker said that Peak’s “early traction, market potential and the track record of its founding team” make it a prime candidate for fast growth.
Peak CEO and co-founder Itamar Lesuisse said he hoped to establish Peak as “the app of choice for tracking cognitive performance”.
“With the rise in the popularity of using smartphones to monitor physical health, it’s only a matter of time before data relating to cognitive well being is given an equal level of value and credence,” he added.
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