Discovery Communications has led the latest round of funding for brain training and cognitive game producer Lumosity.
San Francisco-based Lumosity said it has raised $31.5 million in Series D financing, with the round led by Discovery, as well as contributions from extant investors FirstMark Capital, Harrison Metal, Menlo Ventures and Norwest Venture Partners.
The company, which launched in 2007 and now has more than 40 games, 25 million members, and paying subscribers from 180 countries, said it is earmarking the funds to continue its research into human cognitive performance, build the leading science-based learning brand, and reach hundreds of millions of users. Thus far, Lumosity has received a total of over $70 million in funding.
Over the past year, Lumosity reported that its membership has doubled to over 25 million members and its mobile app, which ranks at the top in the education category, has been downloaded 10 million times since bowing in 2010. Since launching Lumosity.com, the company said has built up the world's largest database of human cognitive performance. This database is part of Lumosity's Human Cognition Project, and is being used in groundbreaking neuroscience research with academic researchers to provide insights into the application of cognitive training for learning.
"Our goal has always been to use technology to create cutting-edge neuroscience-based programs that help people reach their full potential," said Kunal Sarkar, co-founder and CEO of Lumosity in a statement. "We're motivated by the millions of consumers who use Lumosity every day to enhance their lives, and we're excited that Discovery Communications has decided to support our growth into a global learning brand."
Noted Discovery Communications chief digital officer JB Perrette: "As Discovery focuses its digital strategy around strengthening its position as the #1 nonfiction media company across all screens, we also see strategic growth opportunities in select investments in the next generation knowledge space. Discovery's commitment to igniting people's curiosity and passion for learning is a natural fit with Lumosity's success in brain training. We are proud to take the leadership position in this round of financing and look forward to supporting Lumosity's expansion around the world."
The content company has a longstanding commitment to learning, with its Discovery Education arm currently dedicated to transforming traditional education techniques into digital learning curriculum for grades K-12.
