Lumosity has raised $31.5 million in Series D financing led by publicly traded Discovery Communications. Existing investors FirstMark Capital, Harrison Metal, Menlo Ventures and Norwest Venture Partners also contributed. Lumosity, which makes online and mobile learning programs, has received a total of over $70 million in funding to date.
Lumosity, the leader in online brain training, today announced that it has raised $31.5 million in Series D financing. Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) led this round of financing, along with participation by existing investors FirstMark Capital, Harrison Metal, Menlo Ventures and Norwest Venture Partners. The company will use the funds to continue its pioneering research into human cognitive performance, build the leading science-based learning brand, and reach hundreds of millions of users. Lumosity has received a total of over $70 million in funding to date.
“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.”
In the past year, Lumosity’s membership has doubled to over 25 million members and the Lumosity mobile app has been downloaded 10 million times since launching in 2010. The mobile app has reached the #1 spot in the overall app store and is consistently the top app in the Education category.
“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. “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.”
Over the past five years since launching Lumosity.com, the company 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.
“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,” said JB Perrette, Chief Digital Officer, Discovery Communications. “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.”
About Discovery Communications
Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world’s #1 nonfiction media company reaching more than 1.8 billion cumulative subscribers in 209 countries and territories. Discovery is dedicated to satisfying curiosity through 149 worldwide television networks, led by Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery, as well as U.S. joint venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first 24-hour 3D network. Discovery also is a leading provider of educational products and services to schools and owns and operates a diversified portfolio of digital media services, including Revision3.
Lumosity is committed to pioneering the understanding and enhancement of the human brain to give each person the power to unlock their full potential. Lumosity’s online and mobile programs train core cognitive abilities such as memory and attention. Launched in 2007, Lumosity now has more than 40 games, 25 million members, and paying subscribers from 180 countries. Lumosity’s games are based on the latest discoveries in neuroscience, with continuing independent third-party studies being conducted by researchers at Harvard, Stanford, UC Berkeley, and other academic institutions. Lumosity is available at Lumosity.com and on the iPhone. Lumosity is headquartered in San Francisco, California.