Brain training app Peak has raised £4.8 million ($7 million) to bolster its team of neuroscientists and engineers.
The Peak app is designed to provide each user with a profound level of insight into their current state of cognitive function through a range of fun and challenging games that test, track and strengthen cognitive performance.
The app is free but the pro version includes a full catalogue of games and more in-depth insights into a user’s cognitive performance, including comparison to the performance of other professions, their age and more.
Cofounder and CEO Itamar Lesuisse, previously an employee at Amazon and Visa, told Techworld that he wants to build out the team of three neuroscientists currently working on Peak.
“We see an opportunity to establish Peak as the app of choice for tracking cognitive performance,” he said. “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.”
Investment in the Series A funding round came from a range of venture capitalists, including Creandum, DN Capital, London Venture Partners (LVP) and Qualcomm Ventures.
"The Peak team has the right formula of world class execution and ability to attract the best talent to become the category leader in mobile brain training. We expect the Peak app to revolutionise brain training globally," said David Gardner, partner at LVP.
“We invest in mobile propositions that have realistic potential to become household name products,” said Daniel Blomquist, partner at Creandum, the firm known for its early investment in Spotify.
"The Peak team has demonstrated an ability to build incredibly engaging, habit-forming products and the mobile subscription business model has shown very promising results," he added.
According to DN Capital Partner Steve Schlenker, “Peak’s early traction, market potential and the track-record of its founding team means it’s ideally-positioned for rapid growth.”
Total investment in the Soho-based company now stands at more than £6.8 million ($10 million).
In addition to being named one of Apple’s ‘Apps of the Year’ in 2014, Peak has also developed a companion app for the Apple Watch, which will be ready to download when the device launches.